Justice Department accuses Visa of debit network monopoly that affects price of 'nearly everything’
www.cnbc.com
Visa and Mastercard have surged over the past two decades, reaching a combined $1 trillion market cap. That has attracted unwanted attention from regulators.
  • knightly the Sneptaur
    1·
    20 hours ago

    If you’re aware of what a back-of-card network is then you should understand how transformative a state-backed zero-fee interchange would be.

    • NateNate60@lemmy.world
      1·
      20 hours ago

      That’s essentially what FedNow wants to be, except the goal is to replace the debit card network.

      Trying to start a new debit card network is a chicken-and-egg problem.

      • knightly the Sneptaur
        1·
        18 hours ago

        Not when you’re a government.

        Mandate that payment processors have to support the state debit network and you’ll be on half the terminals in the country in under a year.