Americans use credit or debit cards for wll over half of their shopping transactions. America, actualy has the highest interchange fees of any major economy. About three quarters of the country's credit card transactions are facilitated by veser and master card. They are two of the most profitable companies in the world.
The long-trailed counter-offensive to retake the Russian-occupied regional powerhouse and symbolically powerful provincial capital has begun. But Ukraine’s forces are in no hurry. Visa and Mastercard are two of the world’s most profitable companies; we look at efforts to break their iron grip on the payments market. And the blue-blooded horseshoe crabs that are needlessly bled in their millions.
For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer