A Boring Dystopia

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Justice Department accuses Visa of debit network monopoly that affects price of 'nearly everything’ (www.cnbc.com)

submitted 1 month ago by return2ozma to c/aboringdystopia

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[–] [email protected] 4 points 1 month ago

The DoJ will never touch EMV. They're much, MUCH more entrenched and powerful than even Google. They literally control payments worldwide - the very fabric of society. No government in the world wants to touch that rat's nest with a 10-foot pool, because if payments start to show even a hint of added friction, it can literally bring down a country's GDP.

That's why EMV has been allowed to operate virtually unchecked, and dictates who gets to be on their network with zero pushback - especially since the people EMV strikes off their network are usually people the government would like to get rid of too, like Wikileaks. So the powers that be are very happy to maintain the status quo.

A true case of fascist-style collusion between the state and the private sector. This cartel will never be broken.