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While this is preposterous behavior, I am very surprised it's even possible to operate your own payment card network. Visa/MasterCard is the one monopoly I thou
by andr 14y ago
While this is preposterous behavior, I am very surprised it's even possible to operate your own payment card network. Visa/MasterCard is the one monopoly I thought was practically unbreakable. Even PayPal, who is supposed to be a Visa competitor, issues Visa cards.
- goatforce5 14y agoThis happened in Brazil. From the figures in the blog post it seems as though Visa isn't quite so entrenched there.
- hazov 14y agoDepends, on Rio and São Paulo every low class have a credit card today and Visa is really big in these two towns, maybe they are smaller elsewhere in Brazil but I don't believe that's the case.
- nandemo 14y agoVisa is huge in Brazil. However, OP is not exactly in the credit card processing market (cf. eduardordm's comments in this thread).
- swah 14y agoHe doesn't have machines on stores on anything like that, IIUC. Visa is huge in Brazil, as is Mastercard - and while the stores offer very "flexible" options for payment (like 8 installments w/ no fees), the CC companies charge very high interest rates when the bill isn't payed on time. AMEX is kinda elite and not that widespread. There are also smaller CC networks that are born with supermarkets, Walmart has something called Hipercard.
- Terretta 14y agoIf I'm understanding, this is a stored value card or something like a debit card the employee can get paid on then spend from.