4 ms·
That'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
by 411111111111111 4y ago
That'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