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Re:Visa, Mastercard mull increasing fees for processing tran... by btian on Friday February 15, 2019 @01:19PM (#19173289)
Because there are only 2 companies in the industry with huge moat - https://www.jstor.org/stable/4225650?seq=1#page_scan_tab_con...

It's the same reason why airlines don't compete with each other.

Re:Visa, Mastercard mull increasing fees for processing tran... by refurb on Friday February 15, 2019 @01:41PM (#19173500)
The price of flights to Hawaii just dropped because SouthWest is starting a new route there. How is that not competition?