<script type="text/javascript" src="https://pppbr.com/bnr.php?section=Footer46860&pub=543549&format=728x90&ga=g&bg=1"></script>
<noscript><a href="https://yllix.com/publishers/543549" target="_blank"><img src="//ylx-aff.advertica-cdn.com/pub/728x90.png" style="border:none;margin:0;padding:0;vertical-align:baseline;" alt="ylliX - Online Advertising Network" /></a></noscript>
There appear to be two forms of disintermediation risk (direct and indirect / first-order and second-order) facing companies like Visa and Mastercard. Indirect disintermediation appears to be the larger risk, where banks get disintermediated (by bigtech and fintech) and as a result Visa due to the heavy reliance on bank partnerships.
...read full article on Seeking Alpha