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How so? Capitalism itself has created the visa/mastercard duopoly. Capitalism only leads primarily to monopolies and duopolies, hence the problem we're in. Do
by zoeysmithe 1y ago
How so? Capitalism itself has created the visa/mastercard duopoly. Capitalism only leads primarily to monopolies and duopolies, hence the problem we're in.
Do you really think there's a shortage of people who would like to start a company that gets an easy 3% per transaction?
- jfyi 1y agoThe issue isn't at Visa/MC, but the processor. That is why Itch is looking at other processors. Also, that 3% doesn't go to just Visa/MC and the other card brands. It goes to the payment gateway, the payment processor, at least one level of sales organization, the merchant bank, and the POS company in the case of in person business. There are several intermediaries that get a slice of the pie.