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Technically, they aren't. If you're willing to start a new credit card company, and get enough people on board, you could compete on interchange fees. However,
by ebiester 13y ago
Technically, they aren't. If you're willing to start a new credit card company, and get enough people on board, you could compete on interchange fees. However, how are you going to convince the consumer that they want a credit card issued by you?
- PeterisP 13y agoLarge associations of merchants (who'd benefit from lower interchanges) can do that, IIRC there are some examples of successful country-local cards. Making any of it an international network comparable to Visa/MC would anyway take decades and billions.