[CryptoPunk]

Visa can charge those fees because are no alternatives to Visa. There are alternatives to Bitcoin. It doesn't have a network of hundreds of millions of accepting merchants spread all around the world, and never will, because it can't process a meaningful volume of transactions per second:

In contrast to Visa, which can process 3,000 transactions per second, Bitcoin can only process 3 per second.

Limited, even during peak demand, to 1/1000ths of Visa's average throughput, and 1/10,000ths of Visa's peak usage throughput, there is also no way Bitcoin can match Visa's $11 trillion volume.

[beaner]

Mastercard is a competitor to Visa.

2nd layers for Bitcoin can scale to many thousands of transactions per second.