One Step Closer to the End of Visa's Monopoly
- Luke Massie, CEO at VibePa
- 17.11.2021 01:45 pm #payment #visa #card
Commenting on Amazon's decision to stop accepting payments using Visa credit cards, Luke Massie, CEO of VibePay, said: "At a time when consumers are already facing significant financial pressures, the battle between Amazon and Visa will have an immediate impact on their choices.
"However, this dispute will bring the payments industry one step closer to card disintermediation, resulting in long-term benefits for the consumer. Rather than the likes of Visa having a monopoly on the payments industry, these battles, which we expect to see more of in the future, will open the door for fintechs who are taking advantage of technologies such as Open Banking and account-to-account payments. We will then see consumers have more choice than ever before."
