[patates]

> Credit cards are mostly supplied by a couple huge companies that aren't interested in improving their rates.

This situation is called an oligopoly. I don't think it has something to do with government sanctioned rent seeking.

[Dylan16807]

Government-sanctioned rent-seekers are not the only kind. The comment by User23 was about payment system rent-seekers in general, with no mention of the government.

[scarface74]

The original comment I replied to was about a software as a service company that was a “rent seeker” because it helped businesses manage thier tax liability.

At one small company I worked for, we paid SAAS companies for:

- expense reporting and reimbursement (Concur)

- managing payroll

- Managing retirement benefits

- source control hosting (Github)

- Infrastructure (Microsoft Azure)

- Salesforce (I don’t know what they do)

- Training and Compliance

- Chat (Slack)

- Email, Office software (Microsoft Office 365)

- vending services

Etc.

How are these companies any different than the company that helps businesses manage tax collection? They all saw a business opportunity and my company was glad to pay them so it could focus on its niche.

[patates]

Yes but the mentioned problem comes from the companies forming an oligopoly.