Visa and Mastercard dominate global payment processing, holding 90% market share outside China and a combined value of $850 billion. Their dominance stems from historical foundations, strategic advantages, and network effects, despite facing challenges from companies like Amazon and national processors like India's RuPay. The duo's strong position results from restrictive practices and significant investments, which hinder competition. However, rising fintech and regulatory pressures may disrupt their duopoly, impacting future payment processing dynamics.
https://quartr.com/insights/edge/visa-and-mastercard-the-global-payment-duopoly