We did have something resembling competition, maybe a decade or so ago, with the emergence of Venmo and Cashapp and Zelle - basically just digital front-ends for e-checks between bank accounts. They all hit major stumbling blocks, in no small part thanks to how Visa/AMEX/MC conspired to freeze them out.
We did have something resembling competition, maybe a decade or so ago, with the emergence of Venmo and Cashapp and Zelle - basically just digital front-ends for e-checks between bank accounts. They all hit major stumbling blocks, in no small part thanks to how Visa/AMEX/MC conspired to freeze them out.
Capitalism abhors competition.