3 ms·
I've never heard Visa or Mastercard characterized as monopolies before. Is that true? I guess I always just thought they were so regulated that nobody wants to
by warent 6y ago
I've never heard Visa or Mastercard characterized as monopolies before. Is that true? I guess I always just thought they were so regulated that nobody wants to try and enter the market (except Discover who I happen to bank with)
Not to be too tangential here but does anyone know if Visa/Mastercard monopoly has a negative affect on the consumer right now? I havent noticed one, so it must be a lot more subtle than, say, internet / cable monopolies.
- Avshalom 6y agohttps://en.wikipedia.org/wiki/Discover_Card#Business_developments https://en.wikipedia.org/wiki/Discover_Card#Business_develop...
- threeseed 6y agoThe payment one is just ridiculous and completely wrong. Credit cards are already competitive i.e. Visa, MasterCard, American Express. And the payment space is one of the most dynamic and competitive around. Endless amounts of new startups and bigger players in digital payments e.g. PayPal.
- dlubarov 6y ago> Visa, MasterCard, American Express Add Discover and you essentially have a complete list of credit networks in the US. The other offerings you see are mostly white label products built on top of the usual credit networks. I wouldn't consider PayPal a competitor since they don't operate a credit network (although they sometimes facilitate money transfers that don't involve the credit networks). Whenever a physical credit card is used in the US, it's almost always the case that one of those four credit networks collects an interchange fee.