Re:Can the Visa-Mastercard duopoly be broken?
by JumpCrisscross on Wednesday August 17, 2022 @06:55PM
(#32502852)
> Apple's App Store is well-positioned to run subscriptions over ACH, and they have the consumer trust to get some adoptoin
You have to get one side to trust it. Visa and MasterCard succeeded by making it easy for consumers. The counterpunch is likely in winning over merchants. If Netflix or Spotify gave me a small discount for running over alternate payment rails, I don't need to trust the intermediary, I trust Netflix or Spotify to not screw a decade-long customer over pennies.
You have to get one side to trust it. Visa and MasterCard succeeded by making it easy for consumers. The counterpunch is likely in winning over merchants. If Netflix or Spotify gave me a small discount for running over alternate payment rails, I don't need to trust the intermediary, I trust Netflix or Spotify to not screw a decade-long customer over pennies.