Mastercard’s ties to the esports world have led to more evidence of censorship. A source leaked messages from the Riot Games sponsor to livestream channels during the Valorant Champions Tour. The payment processor asked moderators to delete messages accusing it of forcing the ban of Steam games.
It really boggles the mind why we have to go through private corporations to use our monetary system in the digital realm
If we had to use private corporations then there needs to be enough competition to prevent what is happening now.
FedNow became a thing just two years ago. With transaction fees of just $0.043/transaction, it’s cheaper than every other payment processor out there. Hopefully it can gain adoption and push out Visa/Mastercard.
Interesting. Good to have a less rent-seeking option, not sure I love the idea of the Fed just (assumedly) having access to all my transactions, though.
What prevents them from getting bigger and doing the same thing. This cycle of sadomasochism needs to stop at the root cause.
FedNow is ran by the Federal Reserve. They are almost certainly going to retain stricter regulation than independently operated payment processors.
I’m. So. Reassured.
Enshitification is common. Corps care a ton about social pressures and norms. They get swayed easily by public opinions.
This one is US Gov based so we’ll see how it plays out. They tend to be slower to move… Until someone starts slinging executive orders around to rip things out and tear them down.