4 ms·

There's a lot to take from this development besides Schadenfreude, as I see it living far from Europe. UK founders for one need to be made aware of this since

There's a lot to take from this development besides Schadenfreude, as I see it living far from Europe. UK founders for one need to be made aware of this since it likely impacts their business directly. But also, from an economic perspective I find it very important as it highlights that MasterCard is in such a controlling position that they can price hike like this (and possibly more) as soon as they're able to, possibly indicating a lack of competition in the space. It's an interesting example of how consumer-helping rulesets are needed since clearly MC was doing fine before this hike.

ketzu 6y ago
It seems to be interesting to companies selling goods online in the EU to customers in the UK, so not neccessarily applicable to UK founders yet or I might have misunderstood the intro line: > fees it charges EU merchants when UK cardholders buy goods and services from them online But I get the idea, it's interesting to founders in the EU that want to sell to UK for a relevant part of their business. If I got it correct, master card is basically returning to the fee set that is valid outside of the EU, aren't they? (1.5% compared to 0.3%) which was based on a regulation from 2015 (and there are other payment options that are even cheaper in that regard.) I do strongly belief that it's a sector that needs regulations like this, but I also feel that this lesson has been available for awhile and is ignored on purpose (e.g., on philosophical reasons such that regulation should be avoided for ineffectiveness reasons)