Buy European @feddit.uk Sunshine (she/her) @lemmy.ca 5d ago

Visa and Mastercard: The Global Payment Duopoly

quartr.com Visa and Mastercard: The Global Payment Duopoly

Explore one of the world's largest and most discussed duopolies, from the origins of the credit card to its combined market value of $850 billion.

8 comments

I really hope the digital euro comes around soon, seems like the biggest step into financial independence from payment processors and other American financial institutions.
- Pfffsshhh. We have crypto. That solves all the problems!
  
  _/s
  
  As a technology, crypto does (on paper) solve most problems with FIAT currencies. The problem is as always the people using it. Just like the article linked above, when you have mono/duopolies it can become a problem. In terms of crypto, when people treat(ed) it as regular currency and kept it stored in centralised locations, it makes it easy to take advantage of them.
  
  Likewise, literacy about a technology starts off low. Just how in the early days of eshopping using a visa/mastercard there were probably many people getting scammed to input their card details in sites they shouldn't have, there are many people who dont know how to be safe while using crypto today.
  
  Instead of being bitter to the tech because you or people you know got scammed by being careless with their money, see the positives of the tech and make steps to educate them so it doesnt happen again.
- soon
  
  From what I've read, maybe in a decade...
  
  Crypto being a main currency is the cold nuclear fusion of the digital world. Always a decade away 😅
Thinking about how Discover is currently being courted by Capital One because they are the third largest payment network.

https://finance.yahoo.com/news/capital-one-acquire-discover-means-161220705.html
- Yup, Capital One is going to layoff all the us call centre staff and move it overseas then raise the prices.

8 comments