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The litigation began in 2005, and the settlement might not be approved (if it is approved) until 2025. 20 years to get "justice" in our system. By the way, I
by lapcat 3y ago
The litigation began in 2005, and the settlement might not be approved (if it is approved) until 2025.
20 years to get "justice" in our system.
By the way, I think Mastercard-Visa shows that the question of whether Apple is a "monopoly" is largely irrelevant, as far as consumers and developers are concerned. Any way you slice it, in the US or worldwide, Apple and Google are a duopoly, and that's not healthy competition.
- comex 3y agoNot only that, but: > The pact would lower the rates by 0.04 percentage point and keep them there for five years. Seriously? I'm no expert and I know the numbers have to be small given costs and such, but… 0.04%? That said, this part looks more important in the long run: > The proposed settlement would create some changes to give merchants more choice on accepting cards, allowing them to guide consumers to cards that have lower fees. It would also give small businesses the ability to form groups to negotiate swipe fees, similar to what large retailers already do today.
- ceejayoz 3y ago> allowing them to guide consumers to cards that have lower fees... "We don't take Amex" is already annoying enough without adding "we don't take Visa Signature/Infinite or Mastercard World Elite" to the mix.
- barbazoo 3y agoor debit vs credit
- barbazoo 3y agoHere in Canada I wish local merchants just told people they prefer debit given how much cheaper it's for them. Big corporations, thank you for those points. Even if everyone used debit they wouldn't lower the prices anyway.
- deleted 3y ago[deleted]
- CM30 3y agoSimilarly, Mastercard and Visa should probably be subject to an antitrust investigation themselves for the same reason. Something as important as payment processing shouldn't be left up to a duopoly of large corporations that seem to be able to block people from their services for dubious reasons.
- lotsofpulp 3y ago>Something as important as payment processing shouldn't be left up to a duopoly of large corporations that seem to be able to block people from their services for dubious reasons. Or the most powerful and capable government in the world could get off its ass and operate electronic money accounts and transfer as infrastructure, with a constitutional amendment on an individual not being able to lose their ability to send and receive money to their electronic money account.