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The fact that it's public infrastructure and has no transaction fees is the source of much of the negative press. Both Mastercard and Visa went complaining to
by SanjayMehta 3y ago
The fact that it's public infrastructure and has no transaction fees is the source of much of the negative press.
Both Mastercard and Visa went complaining to the US govt about UPI and RuPay because they foresee their duopoly ending.
- ta7789 3y agoCorrect. Public infrastructure can (but not usually is) run at a loss for the welfare of the citizens. That's the whole point of public infrastructure. MasterCard and Visa have been complaining for a _long_ time about this issue as it undercuts their profitability.
- pyuser583 3y agoIf they could, Mastercard and Visa would outlaw all currency except pennies.
- WeylandYutani 3y agoYep Americans will tell you it is normal for a company to take 1-2% of every transaction. Don't believe their lies.