Re:Can the Visa-Mastercard duopoly be broken?
by PaulDavisThe1st on Wednesday August 17, 2022 @06:51PM
(#32502814)
Don't think of it as a credit card. Think of it as payment mechanism. It comes with certains costs (to some users, and to all merchants) and also with certain benefits. It also comes with a certain aggregate cost to the whole of society, since essentially prices are increased to cover fees, and then some fraction of the fees are refunded to the wealthiest users (redistribution, just more subtle than taxes).
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