@[email protected] to [email protected] • 4 months agoJustice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’www.cnbc.comexternal-linkmessage-square113fedilinkarrow-up1787arrow-down13cross-posted to: hackernews[email protected]
arrow-up1784arrow-down1external-linkJustice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’www.cnbc.com@[email protected] to [email protected] • 4 months agomessage-square113fedilinkcross-posted to: hackernews[email protected]
minus-squareknightly the Sneptaurlinkfedilink1•4 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@[email protected]linkfedilink1•edit-24 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-23 months 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.