“The prices of all American goods and services are an estimated 1-2.5 percent higher to cover just interchange fees — effectively a moderate national sales tax that goes directly into the pockets of a few big corporations” https://theweek.com/articles/850232/why-are-all-paying-tax-credit-card-companies …
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And not even a duopoly on the merchant side -- they each have a monopoly on Visa and Mastercard acceptance respectively. (With very very very limited exceptions, you have to accept both!)
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Fair point. Though I still view the card networks as primarily caring about issuers as their customers (hence the push to increase transaction fees)
End of conversation
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