The Rise of Local Payment Systems: A Threat to Global Giants? Mastercard and Visa's dominance in global payment markets is being challenged by a growing trend towards local payment systems.
In recent years, these domestic players have gained traction in various regions, threatening the market share of traditional international payment giants. What's Behind Mastercard and Visa's Declining Popularity?
Several factors contribute to the decline of Mastercard and Visa in local markets. High fees charged by these global players are a key reason.