When paying online, depending on where you are in the world, you are either confronted with a barrage of payment options and a terrible UX, or you have no option at all. The fundamental problem is that payment networks are not interoperable.
The sender and receiver of a payment must both be on the same network. Few networks can reach global scale so there is little competition. This situation is similar to the days before the Web. It took open standards to interconnect the early web ser