Europe's $24T Breakup with Visa and Mastercard Has Begun

Re:Europe's $24T Breakup with Visa and Mastercard Has Begun by jlarocco on Tuesday February 10, 2026 @11:17AM (#46961997)

I can't disagree that they have a moat, but it's a hard problem and if it were as easy as you say somebody would be disrupting them already to get a share of that $24T.

Just dealing with fraud is a major problem in itself.

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Re:Europe's $24T Breakup with Visa and Mastercard Has Begun by direwolf20 on Tuesday February 10, 2026 @12:30PM (#46963486)

Fraud is mostly resolved by the two banks involved. The network is just that, a network.

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Re:Europe's $24T Breakup with Visa and Mastercard Has Begun by tlogan on Wednesday February 11, 2026 @06:26AM (#46973642)

The problem arises when the banks are in two different countries. If money leaves your account and mistakenly ends up in an account in another country, even within Europe, it can be very difficult to recover.

That is why national payment systems tend to work relatively well. Cross border systems are a completely different challenge.

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