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Yeah, even something “simple” like a replacement of Visa or Mastercard is quite complicated.
by bobthepanda 4y ago
Yeah, even something “simple” like a replacement of Visa or Mastercard is quite complicated.
- 411111111111111 4y agoThat's not how these two credit card networks work. You have card issuers and acquirers, both of these can be local, so it's not a big issue if you're cut off from the world. It's more like a web of trust peer-to-peer protocol, so if a foreign entity removes you from the web of trust, you'll still be able to have transactions with anyone that still considers you trustworthy. That's probably the only reason why visa/Mastercard is so broadly accepted. Amex is run differently, and it's rarely accepted outside of the USA for example
- sdnas211 4y agoIt isn't simple because Mastercard literally runs the interbank payment network for the UK.
- bobthepanda 4y agoWhich is why simple is in quotes. “Simple”, as in everyone takes it for granted