[AllianceDAO Co-Founder: Stablecoin Payments Unlikely to Replace Visa and Other Card Networks in the Short Term] Odaily Planet Daily News – AllianceDAO Co-Founder QwQiao posted on the X platform, stating that some opinions suggest stablecoins and other new payment rails could potentially replace card networks like Visa and Mastercard, citing the approximately 3% transaction fee merchants bear as the reason. However, this judgment overlooks the fee distribution structure. QwQiao pointed out that in a $100 transaction with a $3 fee, approximately $1.8 is returned to consumers in the form of cashback or points, around $0.45 goes to the issuing bank, about $0.6 goes to the acquiring bank, and the card network only receives about $0.15. QwQiao emphasized that this structure creates a stable incentive relationship among consumers, banks, and card networks within the same system, with the related costs primarily borne by merchants who have relatively weaker bargaining power. This is one of the key reasons why traditional card payment networks have maintained their scale effects over the long term.