It's weird that this hasn't already long since happened. Most every Asian country I've been to has had its own local payment systems.
There seems to be this idea that Visa & Mastercard are somehow too big to be usurped, but it's all illusion.
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It's weird that this hasn't already long since happened. Most every Asian country I've been to has had its own local payment systems.
There seems to be this idea that Visa & Mastercard are somehow too big to be usurped, but it's all illusion.
I'm a firm believer in payment neutrality. Visa and Mastercard as payment processors should neither be held liable for what payments go through their pipes, but at the same time they cannot stop any payment going through their pipes.
For all things like money laundering etc. Those must be handled by banks and the government, not the payment processor. Visa and Mastercard are just pipes for money to travel through, not banks.