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Battle of the credit cards
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Settlements in America really put ours into perspective. Next time someone tells you that the credit card machine does not accept American Express cards, you can tell them that in an antitrust case in America, both Visa and Mastercard have had to settle American Express for these restrictive practices they established on their systems. Visa paid $945 million and Mastercard paid $1.8 billion to American Express for the estimated losses this caused American Express. I guess we will find their machines do start accepting American Express cards in South Africa pretty soon!
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Posted by Michael de Broglio on Wednesday 25-Jun-08
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