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Startups attempt to compete with and even displace Visa and MasterCard: Companies have been attempting to displace Visa and Mastercard and disrupt the traditional payment landscape. Financial regulations and compliance requirements also shape Visa and Mastercard’s operations.
TL;DR Credit card surcharging involves adding a fee to transactions with credit card payments, offsetting processing costs. It offers benefits, such as passing interchange fees to users, boosting profit margins, and encouraging alternativepaymentmethods. Encouraging AlternativePaymentMethods.
It oversees compliance with federal banking laws, including those governingpayments. Federal Trade Commission (FTC): The FTC is responsible for enforcing antitrust laws and protecting consumers from deceptive or unfair business practices, including those related to payments.
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