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by bArray
1974 days ago
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> MasterCard may reasonably believe they have power enough > to do this. The UK is still a large economy and there are quite a few other big players in the transactions handlers market. Given how several large companies are looking to setup micro-transactions with zero-cost transaction overheads, they might be shooting themselves in the foot. The reason the UK should fight this is that they obviously currently have a lot of outgoings and very little income (like every Country during COVID). They will already have to raise taxes - if MasterCard are also raising their own form of tax this will even more greatly increase living costs. > A government which is scarcely managing its current > responsibilities. I don't want to get into politics on HN. |
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Your original suggestion of regulation is politics. It's a political decision. When you say "the UK should fight this", you mean: "UK politicians should actively decide to act".
MasterCard making this move forces the UK government to show their hand - and it's not that MasterCard has made this decision without that in mind. It indicates that MasterCard thinks* there's a good chance UK government won't do anything.
(*or knows - they spend plenty on lobbying and will have spoken directly to decision-makers)