3 ms·
> visa and mastercard are gatekeepers enormously inflating the price of transactions. Doesn't the same apply to Apple and Google toO on their respective OSes?
by webmobdev 7y ago
> visa and mastercard are gatekeepers enormously inflating the price of transactions.
Doesn't the same apply to Apple and Google toO on their respective OSes? And while they (Visa/MC) are behemoths in their fields, I don't exactly agree with the "gatekeeper" terminology as they have a lot of competitors. That isn't the case with Apple App Store and Google Play Store (licensed android).
- m463 7y agoI think visa/mc have very little true competition. My way of looking at this is -- have transaction costs fallen? Maybe we're on the verge of change though.
- webmobdev 7y agoI think that was true earlier even though there were smaller players like JCB, Discover etc. But now Mastercard and Visa are facing stiff competition in India and China, where they've already been crowded out by the local players: https://digital.hbs.edu/platform-digit/submission/visa-and-mastercard-are-losing-fast-to-indian-alternatives/ https://digital.hbs.edu/platform-digit/submission/visa-and-m...