Imagine this situation: you sell online courses. FB says hey, users can pay directly via Libra thus streamlining checkout to a few clicks. Now Facebook takes a cut of every transaction. If I were PayPal I’d be very scared.
edit: corrected typo
So imagine the current status quo is that either paypal or visa/mastercard are the principle payment methods and they charge the current rates.
But with libra, you still pay with paypal or visa/mastercard but using libra coin instead of fiat coin and % of the fee also goes to facebook.
What I can't wait for. Is the raft of people who will be denied creating wallets. How many people have had their accounts frozen by Paypal, kicked off using Visa/Mastercard and even Stripe! Quite a few I can tell you.
Think the situation will be different from Libra? Doubtful...