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This person used VISA, a part of (debatably the worst tri-opoly) as example of something open? Insane. I was genuinely interested in where he was going but this was just a huge fail.

New entrants who wish to take on credit card offerings cannot flourish due to Visa and Mastercard's monopolistic practices.

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If you are looking to take on credit cards than sure it’s hard to be a new processor. If you are a bank, it’s fairly simple to issue your customers a Mastercard. I think the small players at this scale are still multi-million dollar studios and production companies.

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