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So MasterCard have in one swoop pretty much monopolised the entire payments industry of an entire country? Helping the unbanked is probably a good thing (proba
by TomGullen 12y ago
So MasterCard have in one swoop pretty much monopolised the entire payments industry of an entire country? Helping the unbanked is probably a good thing (probably) but I wonder how expensive these cards will be, or will become.
I personally would hate the idea of having a "Mastercard" branded ID card or passport here in the UK. Maybe in Nigeria it's the lesser of two evils, perhaps not.
- true_religion 12y agoWhy do you think its a monopoly?
- serf 12y agoit may not be one currently, but if an entire population is forced to use an ID from a private company, and then that company provides incentive for other services formed around the ID (which was forced), it begins rapidly approaching monopoly status.
- dragonwriter 12y agoThe first step is itself a monopoly, leveraging it to other products is one of the dangers that an existing monopoly opens up.