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Or how about actually elected alternative: government regulating these payment providers not to do this? (At least in countries where elections have total cap f

• tavavex 1y ago
  Both Visa and Mastercard are American companies. What do you think the likelihood is that the US in its current situation regulates them? As for other countries, I'm not even sure they have the leverage when faced with an 'essential' duopoly that everyone already relies on.
  • thewebguyd 1y ago
    > I'm not even sure they have the leverage when faced with an 'essential' duopoly that everyone already relies on. The fact they are so essential should give the nations all the leverage - "Your service has become too important to the function of our nation, so we are nationalizing your company and making it a public service." Time to stop being afraid of doing that - if a private company is THAT important to the continuing functioning of your society, then that company has lost their right to be a private for profit business and needs to be nationalized, at least partially to keep them in check and make sure they are following the laws of the nations they operate in. We, as societies, should have never allowed any corporation to become more powerful than their governments.