Post by Tomas Hirst / Redsky

Article was here fwiw: www.businessinsider.com/apple-pay-an...

sep 2, 2025, 12:03 am • 0 0

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In the year 2025 it should not be wildly profitable to sell basic payment services, and yet...

sep 2, 2025, 12:05 am • 0 0 • view

I agree with @tobyn.bsky.social - central bank digital currencies are probably our best bet at competition in this space. I mean *look at these stats* www.ft.com/content/d966...

So far, competition has not worked in bringing down the cost of private digital payments. In their interim report on reviewing processing fees last year, the UK’s Payment System Regulator found that British companies had little choice but to pay fees issued by Visa and Mastercard, which together account for 95 per cent of transactions using UK-issued cards. Moreover, these fees had increased 30 per cent over the past five years in real terms with little or no link to changes in service quality. In the US, it took the settlement of a long-running class action antitrust lawsuit against the two companies to cut so-called swipe fees rather than the invisible hand of market forces.

sep 2, 2025, 12:09 am • 5 0 • view