Visa and Mastercard to “increase fees” to Banks in April 2019 — does this help crypto adoption?
Source: https://bitcoinist.com/visa-mastercard-transaction-fees-cryptocurrencies/
In a surprising move, considering both Visa and Mastercard both reported monster Q4 earnings, they have announced plans to “increase” costs to the banks.
This increase of course is not an expense that the banks will “absorb” because they are such good guys. Expect some increases in fees or expenses passed on to the consumer.
The credit card companies clam this is to cover increased expenses or is because of a $6.2 Billion settlement with over 12 Million Merchants who won round 1 in court in September 2018.
Source: https://www.bloomberg.com/news/articles/2018-09-18/visa-mastercard-reach-6-2-billion-settlement-over-swipe-fees
Mastercard and Visa enjoy unbridled success with their monopolies.
How much longer will this last when cryptos come to the forefront with “no fees” as an option???
I doubt this "no fees" from cryptos will last long...
We will see. There are more options for crypto use (BTC, LTC, BCH, DGB etc...) vs Visa/Mastercard. All will take time to flush out and see who has the best complete offer.
Yes,there are and each require nodes,miners who also make money from fees, if you want your transaction fast ...
Can only soak the public so much...
Exactly, competition is needed. Although I fully expect Visa/MC to have an offer with crypto.
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