… and they know it… which is another issue actually… mastercard and soon visa both will deny the ability to run independent cryptocurrency apps on the same chip as their payment applets… and at the same time they are integrating new cryptocurrency networks so payments made from a cryptocurrency account to a merchant over their terminals and networks will still impose the same processing fees… another way to neutralize the effect cryptocurrency could have on their revenues… and I’m sure it will work since merchant terminal manufacturers are also banned from accepting cryptocurrency via their terminals or point of sale systems if they want to keep accepting mastercard or visa.
the only way for cryptocurrency to win is for merchants to get tired enough of paying the piper to set up a separate crypto point of sale system with its own terminal… and that’s a high bar… and maybe MC/Visa will just attempt to ban them from accepting it at all if they want to also accept MC/Visa payments… but that might be challenged legally… maybe… dunno.