@paf0 to News • 2 months agoJustice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’www.cnbc.comexternal-linkmessage-square113arrow-up1787arrow-down13cross-posted to: [email protected]antitrustaboringdystopia[email protected][email protected]
arrow-up1784arrow-down1external-linkJustice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’www.cnbc.com@paf0 to News • 2 months agomessage-square113cross-posted to: [email protected]antitrustaboringdystopia[email protected][email protected]
minus-squareknightly the Sneptaurlinkfedilink1•2 months agoIf 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.
minus-square@NateNate60link1•edit-22 months agoThat’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.
minus-squareknightly the Sneptaurlinkfedilink1•edit-21 month agoNot 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 three months.
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.
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.
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 three months.