Yes, indeed. The thing is MasterCard, Visa and all their foreign counterparts actually do provide a lot of value in keeping the ecosystem relatively safe for normal people. When I see a contactless touch point in a shop, I know it's almost certainly legit. If they didn't, people would just use cash.

So there's probably always going to be some kind of transfer or network access fee. It's just that it very much not a competitive market place.

Opening up the system to competition, but still within a regulatory framework that prevents it degenerating into a Wild West hotbed of scamming does seem like a good way to achieve some of that. Certainly, the vaunted "free market" should be ensuring that the price of a transaction is pretty close to the cost of providing it, and it clearly is not currently.

The problem, or feature, depending on who you ask, is that basically only governments can provide that kind of regulation. Which will always then inject a level of geopolitics into things like which countries you're allowed to buy your blog posts from. And for governments who listen to business over citizens also leads to capture and subversion of the system.