[ska]

> Visa and Mastercard are going to get wrecked soon, as it becomes apparent they are an unnecessary trillion dollar parasite on the economy.

This is a completely unsupportable view. The rise of CC processing happened because it was manifestly better than the options you had before (every seen a hand-written credit list at a bodega?)

Now you can probably squeeze the price point a little, and argue about if/when newer technology means the same level of service could be provided for less (maybe) but the complexity of what they do is pretty high. Not to mention the reach and reliability.

Lot's of people wave hands about crypo/defi being a solution to this but currently that's at best wishful thinking.

BNPL companies are a real potential threat for them though.