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Payment processors and providers are regulated around the world and in the US, if the US wanted too they could cap fees they already do to some extent just not
by dogma1138 6y ago
Payment processors and providers are regulated around the world and in the US, if the US wanted too they could cap fees they already do to some extent just not as much as say Europe.
- tempsy 6y agoevery industry is regulated to a certain degree. making something a utility is a step change difference. interchange in the US is not regulated outside the Durbin Amendment for debit interchange for large banks. Visa and MC are way too lightly regulated when they are the gate keepers to a cashless world due to what I would consider a historical accident. No reason why these networks shouldn’t be utilities in a cashless world.