> The main reason we don't have an alternative to Visa/Mastercard duopoly is protectionism of EU countries. There are local alternatives that do pretty well (BLIK in Poland, Revolut Pay in countries where it's popular) but entering more markets is like pulling teeth because EU throws regulatory obstacles at every step.

That doesn't seem to make a lot of sense? How did Visa & Mastercard manage to go through the "protectionism of EU countries" then?

> How did Visa & Mastercard manage...

I'd bet a combination of:

- Got through before the red tape ramparts were nearly as thick as today

- Ungentle arm-twisting by the US Gov't... at Visa & Mastercard's behest

- Amply greased palms... which can't be traced to Visa or Mastercard. At least not in any jurisdiction which would do anything about it.