Thread 106627741

I could ask chatgpt this but I thought I'd try out unemployed day laborers on /g/.

Whats up with the over reliance on visa and mastercards network for online payment networks? How have their payment platforms manages to dominate online payments? Is it literally because they're the only ones the banks have decided to all network between?

I ask because I'm curious besides crypto tech have none of the banks got any B2B backend apis that someone can just come along and allow authenticated payments for customers? It seems weird that every bank would allow visa and master to effectively hold them by the balls.

>>106627741 (OP)
stop asking questions, goyim.

>>106627780
>>106627790
>>106627800
I'm starting to think the reason you guys aren't employed isn't AI

>>106627841
Payment processors were literally started by jewish bankers and investors who wanted to control the digital money flow.

I’m not doing the research for you. All these companies were started by jews, who HID the profitability of these businesses until it was impossible to conceal anymore.

When you’re moving numbers on a screen your operation is pure profit. JEWS did this. On the other hand, without these jews conniving you would have a much harder time moving money online. Crypto is still not mainstream after 15 years so yeah jews won this one, as usual.

>>106627741 (OP)
Banks don't want to be scammed so they only use authorized payment processors.

/Thread

>>106627741 (OP)
Dumb laws.
State laws prohibited interregional banking. Credit cards where becoming a thing in the 70s and because of state bans, most credit cards where only useful in the general region where the card was issued as the bank was nearby
Used to be if a store accepted a card, it would have to turn the slips with the card imprints to the bank the card was issued. This was infeasable if it was an out of town card and also a pain in the ass because multiple banks with credit cards could be in the region.
The card networks where a way to separate the payments from the actual bank. They facilitated the transfer of payment info from the merchant to the relevant banks and since the processors weren't banks, they circumvented branch banking laws.

Why Visa and Mastercard comes down to the natural tendency for 2-3 players to come out on top after decades of entrenchment and some anti-competive actions.
In some aspects it's actually a good thing. In the US there is a united debit/credit processing that just isn't a thing in other countries but it also means visa and MC are just more entrenched.

>>106629151
Translated, juice.

>>106627741 (OP)
>I could ask chatgpt this
why didnt you then, chatgpt knows eerything apparently

>>106627741 (OP)
Are you a literal child Op?

A mix of a lot of things, but the main thing is that MC/Visa are massive bullies to people that offer alternative payment processing and have the banks by the balls. By the time anyone realized, making alternatives became hard as fuck at least in western countries. Ironically, India is a success story of telling them to fuck off.

>>106627841
low IQ midwit asking questions he doesn't know the answer to and then decides his IQ is high enough to dismiss answers he doesn't even have the IQ to realize are correct to begin with. Many such cases. You should just stick with AI, it will provide you answers your over-socialized brain will allow you to accept even if they are all bullshit

>>106627790
>stop asking questions, goyim.
No U

>>106629189
It is just a russian not understanding the world and trying to make some sense of it. Which he won't. Just look at the syntax.

>>106627741 (OP)
Because they're a cheap processor. A SMALL mom & pop shop can easily get into the 1000s in processing fees every month.
That's why everyone uses Master and Visa, because no one wants to pay extra.
Amex being the only exception. And 100% every time you use an Amex in a small business, they hate you.

>>106629151
>>106629170
Honestly, in this case it's unironically less jews and more just boomers being boomers and protecting their boomer pals. Founder of Visa, for example, was a mormon. It's what happens when a country developers early and the old live too long. They start hold onto power through government, business, and infrastructure. I would even argue that the reason why we had such a massive leftist craze is not only jews, but the last generation growing up under such strict boomer control that many of them went crazy and did things like transify themselves in some insane outlet for their resistance.

Ironically, late gen-x and millennial liberals were so overbearing they managed to turn zoomers more conservative at youth within a generation, which is crazy.

>>106627912
It's digital coin clipping, with a tiny fraction of each transaction being clawed away into clutches of a small number of entities.

>>106631137
that's not online payment

>>106629445
What I'm hearing is that I should use Discover and buy stuff with cash

>>106629151
>State laws prohibited interregional banking.
this was a good law
since its been repealed all money is just being sucked out of every state and concentrated in NYC

>>106627800
Why do jews have to be like that? I don't get it, they have a community as solid as the freemasons' and they only use their power for evil against non-jews
Same for the freemasons and the american political elite, you have the power to propel america and europe in a way that would otherwise take so long to get there and instead you just make the country a dystopia...

>>106631137
>no crypto

>>106627790
This, questions are "anti-Semitic"