Comment by gloryjulio
17 hours ago
> and it does not require anything close to that to maintain their network.
If it's so easy to disrupt visa/mastercard payment network, they wouldn't be able to charge this much. Payment is a highly competitive business. We witnessed so many payment companies went under or were bought out, but these two stay for years and are still profitable.
The truth is their moat is considered very durable and hard to build. A global n banks to n banks payment network is not as simple as how people thought.
> If it's so easy to disrupt visa/mastercard payment network, they wouldn't be able to charge this much
If they have the US government behind them its much easier
https://thepaypers.com/payments/expert-views/pix-hits-a-wall...
Same as it ever was: https://news.ycombinator.com/item?id=9224
If someone owned all the highways, building an alternative would be difficult as well.
Why hasn't Alipay completely replaced Visa and Mastercard in US? Everyone has a smartphone to scan a QR code.
I struggle to understand how is this relevant. Alipay is closer to paypal than to VISA/MC
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have you not seen what happened to tiktok?
Visa and Mastercard do not own the internet cables or the wavelengths. Anybody is free to compete, and that's why they have many competitors. It is very common for businesses to accept a variety of unrelated payment methods. There is no monopoly here.