What’s the point of Visa and Mastercard if it’s always from a bank? AmEx cards are produced and processed by them only and not any other processor, so why can’t banks make credit cards without Visa or Mastercard, or vice-versa?
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The network of the credit card companies. They have an agreement with the banks and retailers who use them to accept them as payment, and it’s an international network. If a bank issued their own, it would only be able to be accepted by stores willing to accept it, and I doubt that there’d be many. Perhaps in some small town the local gas station and convenience store might, but it’s going to be useless across the state or country.
Similar to how store cards are only accepted at that store.
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