Wide Moats Keep Payment Networks Safe, but Competition Rages at the Outskirts of the Ecosystem
We recently took a closer look at developments in payments and at the retail point of sale, including a visit to the Money 20/20 conference in late October and talks with small merchants. We think economic moats remain the strongest at the center of the payment ecosystem, where Visa and Mastercard maintain massive networks of banks working on their behalf to add consumers and merchants. The role these undervalued companies play in setting standards is becoming more important as payment options p...
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