2 ms·
Banks are a great example of this: "Mastercard, originally known as Interbank/Master Charge, was created by several California banks as a competitor to the Ban
by us0r 9y ago
Banks are a great example of this:
"Mastercard, originally known as Interbank/Master Charge, was created by several California banks as a competitor to the BankAmericard issued by Bank of America, which later became the Visa credit card issued by Visa Inc."
SWIFT:
"SWIFT was founded in Brussels in 1973 under the leadership of its inaugural CEO Carl Reuterskiöld (1973–1983) and was supported by 239 banks in fifteen countries"
Several others I can't think of right now.
- BerislavLopac 9y agoIt's not the right comparison. Yes, banks compete with each other, but when someone changes their bank they don't change it that soon/often (unlike newspaper subscriptions, which rarely last for longer than a year). Additionally, banks have to interact (at least when transferring funds), unlike newspapers which have no incentive to exchange anything.