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[–] 18 points 1 week ago (1 child)

I hope this BS leads to competition with Visa/MC. The fees they charge are ridiculous. Then you're paying for stripe or whatever on top. A govt run system that's not for profit would be awesome.

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  • [–] 11 points 6 days ago

    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.

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