Understanding the Dominance of Visa and Mastercard in Global Payments
By
bilekas
The bagel they save for the regulars. Don't skim, savour.
Summary
Visa and Mastercard dominate the global payments processing market, accounting for 90% of transactions outside of China. The article explores the reasons behind their duopoly and the challenges they face in maintaining their market positions.
Key quotes
· 2 pulledVisa and Mastercard account for 90% of all payment processing outside of China.
In 1950, Diners Club issued the first modern credit card, representing the type of cards familiar today.
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