• boaratio@lemmy.world
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    10 hours ago

    Why do Visa and MasterCard exist? The middleman that jacks up the price while offering the end user nothing? Thanks capitalism.

    • CummandoX@lemmy.world
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      10 hours ago

      Before smartphones, credit cards were the cashless option.

      Now that we all have a more than capable payment terminal in our pocket, Visa and mastercard are obsolete

      • tangonov@lemmy.ca
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        9 hours ago

        Sorta. Whomever does payment on your behalf has to be willing to extend credit for an immediate transaction while the very slow process of exchanging money happens at a delay. This is especially so if the transactions are international. I truly wonder how the phone with just an ordinary bank account does this. Is it Google/Apple who extend credit? If so, is that better?