> Under terms being discussed, Visa and Mastercard would lower credit-card interchange fees, which are often between 2% and 2.5%, by an average of around a tenth of a percentage point over several years, the people said
Meanwhile interchange fees in places like EU and Australia are more like 0.3%
The Visa/Mastercard duopoly really needs to be broken up somehow.
I live in Asia where there is a cambrian explosion of QR-code based payment methods. At many shops you'll see a list of accepted payment methods like this[0], indicating a healthy amount of competition in payments.
Meanwhile interchange fees in places like EU and Australia are more like 0.3%
The Visa/Mastercard duopoly really needs to be broken up somehow.
I live in Asia where there is a cambrian explosion of QR-code based payment methods. At many shops you'll see a list of accepted payment methods like this[0], indicating a healthy amount of competition in payments.
[0] https://corporate.fithouse.co.jp/wp/wp-content/uploads/2021/...