3 ms·
Not quite, the payment processor monopoly is maintained in part due to regulation, so the government has a hand in this private-public scheme, and this would no
by Ferret7446 1y ago
Not quite, the payment processor monopoly is maintained in part due to regulation, so the government has a hand in this private-public scheme, and this would not happen if there were competition, which is why porn sites and such often accept crypto now.
- const_cast 1y agoNo, the monopoly is natural and obvious. It would have always happened. Do you, as a developer, want to wrangle together 20 different payment processors so you can sell shitty 100% polyester T-shirts? No. Do I, as a customer, want to have to carry around 20 different cards just so I have a chance at being able to pay at an arbitrary merchant? No. And do I, as a business, want to pay for the additional complexity of managing fees across so many processors? No. So everyone actually wants the same thing: very, very few payment processors.