News for hackers. Stuff that matters.

A comment on Visa, Mastercard mull increasing fees for processing transactions: WSJ.

Re:Visa, Mastercard mull increasing fees for processing tran... by munk-a on Friday February 15, 2019 @03:49PM (#19174578)
In Canada we've got the Interact network which was built by a coalition to banks and offers an entirely separate plastic based method... it's sort of like a US debt card. You Americans should really give the free market a try one of these days...
[ Parent | on HN ]
Re:Visa, Mastercard mull increasing fees for processing tran... by rfinney on Friday February 15, 2019 @03:55PM (#19174625)
We did. We had American Express, Diner's Club, Discover (the old Sears) ,department store cards, gas station cards, Bankamericard (Visa) and Interbank (Mastercard). In the 1960s there were hundreds of credit cards. Visa and Mastercard won the free market battle.
[ Parent | on HN ]
Re:Visa, Mastercard mull increasing fees for processing tran... by munk-a on Friday February 15, 2019 @07:24PM (#19176069)
Forming a cartel is not "winning a free market battle" it is kicking the free market out of your business domain.
[ Parent | on HN ]