Dominate Your Credit Card Knowledge: Visa vs. Mastercard $30 Billion Lawsuit Explained! Unpacking the massive $30 Billion settlement between Visa & Mastercard! Discover the impact on swipe fees, merchant profits, and your credit card rewards programs. (Spoiler alert: it's complicated!)
We also delve into India's revolutionary Rupay network: Can Rupay challenge the global dominance of Visa and Mastercard?
Explore in this video:
- History of swipe fees & the fight for lower fees by merchants for over 20 years - Breakdown of the settlement terms: What does it really mean?
- The real reason behind why Visa and masterCard settled: Senators Dick Durbin and Roger Marshall
- Potential impact on credit card giants' profits & your rewards programs - Who ultimately pays the bill: consumers or merchants?
- India's Rupay: A game-changer in the payments landscape
- Bonus: Audience Q&A on burning questions about the lawsuit and Rupay
Whether you're a business owner, a credit card enthusiast, or simply curious about the future of payments, this video is a must-watch!
Chapters
00:00 Intro and TL;DR
1:19 A brief history of the case against Visa and Mastercard
03:49 The outcome of the settlement and impact on merchants
06:00 Nilson report and How Merchants are imapcted
10:22 The Credit Card Competition act the real reason for the settlement
12:21 How Platforms monopolise the ecosystem
18:24 Rupay in India and why competition is good for customers
22:41 Why can't India export Rupay Card Network Internationally ?
25:42 Can Rupay International Network lead to Rupee Dominated transactions increasing ?
28:12 How are rewards programs funded ? And why the settlement won't impact them? 34:01 How cash and debit users fund reward programs
35:58 Outro and the upcoming sessions
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