Then use a service that offers escrow. I don't need my groceries to use insurance for the eventuality that the store goes belly-up in the 2 days until I can check that the products arrived in good order
Base payment products should just do payment at operating margins rivaling a non-profit. It's public infrastructure
That's not the status quo here, but you can often choose to use an american payment mechanism that has this insurance built in. Isn't a selection of things, as we have today, fine then? If these insurers use the cheap transaction service under the hood, and you can choose it directly for a discount, everyone's happy right?
I saw your reply earlier but came back to it because I'm ordering from a new store and they actually offer a discount if you pay with SEPA instead of one of the 11 other options that are various forms of "pay in installments" (take up a credit basically), "pay with insurance", or "pay with your favorite american payment provider". I have no problem paying slightly less than the advertised product price! :) It's a well-known store so imma trust their customer support in case of issues, and the product price is such that insurance makes absolutely no sense (I could bear the loss nearly 100 times over and still make rent this month)
What you’re describing here results in extreme consolidation. The one or two e-commerce giants that figure it out will rule. No startup can ever sell anything online easily. Why would a customer trust a new or upcoming brand or buy anything online?
Base payment products should just do payment at operating margins rivaling a non-profit. It's public infrastructure