Subnostr

Every merchant you patronize has to charge more - or reduce quality, or both - in order to pay this #Danegeld to two of the largest, most profitable companies in the world. Visa/Mastercard have hiked their fees by *40 percent* since the pandemic's start. Forty. Fucking. *Percent*. Tell me again how #greedflation isn't real?

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Cory Doctorow 2y ago

A bipartisan legislative coalition, led by Senator #DickDurbin (D-IL) and Senator #RogerMarshall (R-KS) have proposed the #CreditCardCompetitionAct (#CCCA), which will force competition into credit-card routing, putting pressure on the Visa/Mastercard duopoly:

https://www.congress.gov/bill/118th-congress/senate-bill/1838/text?s=1&r=3

This should be a no-brainer, but plute spin-doctors have plenty of no-brains to fill up with culture war bullshit.

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Cory Doctorow 2y ago

Writing in *#TheAmericanProspect*, #LukeGoldstein unpacks an #astroturf campaign to save the endangered swipe fee from woke competition advocates:

https://prospect.org/power/2023-08-04-wall-street-culture-war-swipe-fee-reform/

Now, this campaign isn't particularly sophisticated. It goes like this: #Target is a big business that runs a lot of transactions through Visa/Mastercard, so it stands to benefit from competition in payment routing.

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