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Featured Article filed under Independent Business | Written by Olivia LaVecchia | No Comments | Updated on Aug 14, 2017

Visa Wants to Rule How We Pay for Purchases. But Its Market Power Has a High Cost.

The content that follows was originally published on the Institute for Local Self-Reliance website at https://ilsr.org/visa-wants-to-rule-how-we-pay-for-purchases-but-its-market-power-has-a-high-cost/

Visa has a new initiative that’s aimed at expanding its market power by going after cash transactions, and it says, creating “a culture where cash is no longer king.” What’s left implicit is that, instead, Visa wants to rule. But the dominance of Visa, along with Mastercard and the big banks that issue most credit cards, comes with high costs for small business owners and consumers.
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