alt Hacker NewsHow difficult is for USA administration learn good practices and initiatives and think into implementing those? And also, why Master and Visa haven’t came with a solution where they integrate with all of that and innovate?
This idea that all they do should be de facto standard for the whole world is so démodé.
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>And also, why Master and Visa haven’t came with a solution where they integrate with all of that and innovate?
There are a lot of people who integrate with them. The issue is that anyone who does so must comply with the PCIDSS. Most hobbyists cant stretch that far and use intermediaries.
>This idea that all they do should be de facto standard for the whole world is so démodé.
I dont know what Brazil's issues were, but Visa and Mastercard show up, they integrate with terminal providers directly and indirectly, and they bring a battle tested data security standard with them. Compared to other industries they are basically self regulating, and in some countries they adopt the PCI DSS into law.
For what MAGA views as good for the USA is actually deplorable loss for the civilized world.
My understanding is that FedNow could become something like Pix, but implementation is voluntary. In Brazil, the central bank required all retail banks of significance to implement Pix by a certain deadline.
Visa and Mastercard are very much against FedNow becoming widely used, as it would destroy their business.