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"I have written code for POS terminals" There is a special, deep level of understanding and sympathy between those of us who have done this.

Great article! I wonder what's your opinion on governments of global South countries making their own PCNs like India (UPI), Indonesia (GPN) and Brazil (Pix) to reduce Visa & MC reliance? In Indonesia we have the central bank run GPN + state-owned banks become acquirers & payfacs for that PCN

This is a pretty good overview overall Though, as you partially noted, I think ultimately the issue boils down to itch being too small to really go to bat for themselves. There are plenty of ISOs and acquirers that would work with them if the money was there and they had any compliance department