Re:Visa and Mastercard are getting overwhelmed by gamer fury...
by Ferret7446 on Monday July 28, 2025 @04:27PM
(#44715196)
Not quite, the payment processor monopoly is maintained in part due to regulation, so the government has a hand in this private-public scheme, and this would not happen if there were competition, which is why porn sites and such often accept crypto now.
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Re:Visa and Mastercard are getting overwhelmed by gamer fury...
by const_cast on Monday July 28, 2025 @08:34PM
(#44717600)
No, the monopoly is natural and obvious. It would have always happened.
Do you, as a developer, want to wrangle together 20 different payment processors so you can sell shitty 100% polyester T-shirts? No.
Do I, as a customer, want to have to carry around 20 different cards just so I have a chance at being able to pay at an arbitrary merchant? No.
And do I, as a business, want to pay for the additional complexity of managing fees across so many processors? No.
So everyone actually wants the same thing: very, very few payment processors.