Japan is tired of it and slaps VISA with Sanctions. The Fair Trade Commission announced that Visa Worldwide PTE Limited (Singapore), the Asia-Pacific regiona...
Apologies for YouTuber link - as some of the sources cited are in Japanese, it’s harder to get to a direct English source. The video description includes links to the Yahoo.jp article.
Administrative sanction on VISA for suspected violation of antitrust law The Public Commission applies the affirmative procedure
On the 22nd, the Japan Fair Trade Commission applied the administrative and affirmative procedures of Visa, an international credit card brand, as a suspected violation of the Antitrust Act (unfair trading method) regarding the terms of business with its partners, with regard to the terms and conditions of transactions with partners. According to the commission, it is the first administrative disposition on a credit card international brand, including the largest in the industry and the largest share (market share) in the country.
[Figure] In 2024, the Public Commission will inspect the VISA Japan corporation
In July 2024, the Public Commission conducted an on-site inspection of a Japanese subsidiary of a visa on suspicion of violating the Antitrust Act. We were also investigating overseas related sites such as U.S. headquarters.
The affirmation procedure is one of the administrative measures that aims to resolve the problem at an early stage by agreement between the Public Commission and the business operator. This month, the Visa submitted a voluntary improvement plan that “commits” the resolution of suspected illegality and reporting the status of its implementation under the supervision of a third party for five years, and the commission recognized it as effective in preventing recurrence.
In line with this, the Public Commission did not recognize the violation of the Antitrust Act of the visa, and postponed more enforceable administrative measures such as exclusion measures orders and surcharge payment orders. Yutaka Yamada
I would add “downvote posts with no useful content” to that. (Report if you know the community has had the sense to forbid that kind of posts.) That does seem to cause some people to flip out, though.
I’m talking about having us visit the youtube video just to get the article link, while having no information on what’s being discussed or new developments in the post body.
A youtube link alone is essentially just click bait. This kind of comes off as a youtuber trying to bring up his views and not a lemming trying to start a discussion.
The article is a bit confusing, only the first paragraph is relevant I think. It seems like 22nd refers to last Tuesday and then the article jumps to events that happened a year ago. It might be the translation, I’m just using the built in Firefox one.
In any case, it is the link in the video description.
To this day, I don’t understand why Visa or MasterCard (or even a “physical” or even virtual card) are necessary. If the banks can’t create a global, shared way of processing payments, then the governments should step in and do it for them.
I imagine that’s because that would be against the interests of the owners of those companies. Which presumably have some power in the world, being practically internationally successful banks.
Im amazed it took this long. We should start banning companies like visa and MasterCard. They should be completely neutral and not try to push USA conservative christian bullshit.
In this case, it’s Australian conservative Christian bullshit, but no doubt they have many supporters in the US as well, since this is every Evangelicals wet dream.
Religion needs to fuck right off and stop harassing people.
Japan’s Fair Trade Commission has taken its first administrative action against the credit card industry, targeting Visa Worldwide Pte Ltd., a subsidiary of Visa Inc.‘s Singapore operations, over suspected monopolistic practices in the authorization system market.
[…]
The investigation centered on Visa’s November 2021 terms changes that rendered credit card companies managing merchant outlets ineligible for commission discounts in certain industries unless they adopted Visa’s authorization system.
This is a country that has porn mags being sold in convenience stores and plenty of stores where you can find content for all sorts of fetishes both online and offline. They also have 2 huge indie artist markets every year where at least 50% of the content being sold is porn. Each event gets about 300k people. Only thing I can think of regarding censorship here are the mosaics and those are only really there due to a very old law that no lawmakers are gonna bother with expending political capital to reverse.
Seriously. I was so surpeiced when I learned that porn in Japan is serialized and you only need to know the serial number of a porn to find the exact one piece you are looking for.
While this is probably true. I don’t think it’s a stretch to say countries like Japan and South Korea are probably better at democracy than the “west” atp
Let’s maybe not include a straight up oligarchy corpo state like south korea in that statement. Better than the usa? Maybe, but they’d even give that a run for the money, and just barely win out.
Shit like this is why people need to knock it off with the “iT’s A sCaM” bullshit and embrace crypto. This is the exact kind of issue that using cryptocurrency prevents.
We need to federate money and put it back in the hands of the people. You would think that Lemmy would be into that idea, but instead y’all act like crypto killed your dog and fucked your wife. I don’t get it.
(And before you use the waste of electricity argument, remember that proof of stake is a thing.)
Edit: Well this went exactly how I expected. Just nothing but ignorant downvotes. Not even a single attempt at a decent counter-argument. You people and your hive mentality suck.
Any gift card still needs to be processed by a processor, who could get all up in arms just like MasterCard and Visa.
I mentioned digital transactions because that’s what has been restricted in essentially all cases. They don’t seem to care if you buy porn in person, they just don’t want you buying porn online.
Works for something like PSN. I see cards for sale in local shops. They can presumably be used to claim some funny money in the service that you can pay with.
Steam could probably do the same, but would suck for a smaller operation.
There used to be some cash to BTC machines that would work with any service.
A gift card isn’t cash, legally or literally. Gift cards also require processors. So this could happen again with gift cards, just with a different set of processing companies.
So what’s your answer? Cheques, money orders, cash in the mail? Or maybe MasterCard, Visa, and their ilk shouldn’t legally be allowed to limit legal purchases that haven’t been flagged as fraud.
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You can’t put the article link instead of the generic yahoo.jp? Are you trying to get views or something?
https://news.yahoo.co.jp/articles/b68ac34e65ec99559eb024ed91df59b696d40eed
Administrative sanction on VISA for suspected violation of antitrust law The Public Commission applies the affirmative procedure
On the 22nd, the Japan Fair Trade Commission applied the administrative and affirmative procedures of Visa, an international credit card brand, as a suspected violation of the Antitrust Act (unfair trading method) regarding the terms of business with its partners, with regard to the terms and conditions of transactions with partners. According to the commission, it is the first administrative disposition on a credit card international brand, including the largest in the industry and the largest share (market share) in the country.
[Figure] In 2024, the Public Commission will inspect the VISA Japan corporation
In July 2024, the Public Commission conducted an on-site inspection of a Japanese subsidiary of a visa on suspicion of violating the Antitrust Act. We were also investigating overseas related sites such as U.S. headquarters.
The affirmation procedure is one of the administrative measures that aims to resolve the problem at an early stage by agreement between the Public Commission and the business operator. This month, the Visa submitted a voluntary improvement plan that “commits” the resolution of suspected illegality and reporting the status of its implementation under the supervision of a third party for five years, and the commission recognized it as effective in preventing recurrence.
In line with this, the Public Commission did not recognize the violation of the Antitrust Act of the visa, and postponed more enforceable administrative measures such as exclusion measures orders and surcharge payment orders. Yutaka Yamada
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Know auto-play id disabled (as it should be)
Open the link
Open the links (OP said they are linked in the description)
Be done.
Quite easy to solve?
deleted by creator
I would add “downvote posts with no useful content” to that. (Report if you know the community has had the sense to forbid that kind of posts.) That does seem to cause some people to flip out, though.
I only linked to the YouTuber summary because the article was in Japanese. Certainly it’s the better source if you can read it.
There’s no karma here. No automated mechanism gives the submitter any benefit for a popular submission.
Right?
I’m talking about having us visit the youtube video just to get the article link, while having no information on what’s being discussed or new developments in the post body.
A youtube link alone is essentially just click bait. This kind of comes off as a youtuber trying to bring up his views and not a lemming trying to start a discussion.
Ok yeah that makes sense. Thanks.
Sounds like this has nothing to do with recent events?
The article is a bit confusing, only the first paragraph is relevant I think. It seems like 22nd refers to last Tuesday and then the article jumps to events that happened a year ago. It might be the translation, I’m just using the built in Firefox one.
In any case, it is the link in the video description.
The video makes mention of a change.org petition calling on Visa, Mastercard and the like to ignore that sect trying to create moral outrage. I know Change.org petitions are pretty worthless, but this one already has over 100k signatures: https://www.change.org/p/tell-mastercard-visa-activist-groups-stop-controlling-what-we-can-watch-read-or-play/
To this day, I don’t understand why Visa or MasterCard (or even a “physical” or even virtual card) are necessary. If the banks can’t create a global, shared way of processing payments, then the governments should step in and do it for them.
I imagine that’s because that would be against the interests of the owners of those companies. Which presumably have some power in the world, being practically internationally successful banks.
Tldr; money.
Generally the world has that. There’s SWIFT and EPI in Europe, EPAA in Asia and Pix is South America. The biggest credit card market is North America.
I’m in Europe, and my debit card says visa. That’s the part that confuses me…
Mine too, but it’s not a visa card. Just compatible with visa terminals. Mine also says cirrus, maestro and a few other payment systems.
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Kick their ass Japan! Don’t go easy on them, make them stop their bullshit INTERNATIONALLY if they want their sanctions removed!
Im amazed it took this long. We should start banning companies like visa and MasterCard. They should be completely neutral and not try to push USA conservative christian bullshit.
In this case, it’s Australian conservative Christian bullshit, but no doubt they have many supporters in the US as well, since this is every Evangelicals wet dream.
Religion needs to fuck right off and stop harassing people.
The Australian one is associated with the American movement all the way down. Might as well had come from America.
Nah, we just both have the same parent.
And we’re equally disappointed in both of you for following our terrible example.
According to articles I can find, this has nothing to do with recent censorships?
https://www.benzinga.com/markets/equities/25/07/46593164/visa-hit-by-japans-first-ever-antitrust-action-against-credit-card-industry
Hepl yes, based japan, defenders of freedom?
That felt totally normal to say.
How is Japan anti-censorship? What a time to be alive
This is a country that has porn mags being sold in convenience stores and plenty of stores where you can find content for all sorts of fetishes both online and offline. They also have 2 huge indie artist markets every year where at least 50% of the content being sold is porn. Each event gets about 300k people. Only thing I can think of regarding censorship here are the mosaics and those are only really there due to a very old law that no lawmakers are gonna bother with expending political capital to reverse.
Seriously. I was so surpeiced when I learned that porn in Japan is serialized and you only need to know the serial number of a porn to find the exact one piece you are looking for.
Porn is serious business man
What’s the indie artist market called?
Comiket
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I don’t think they are. Protectionist and interested in their exports, seem more likely.
While this is probably true. I don’t think it’s a stretch to say countries like Japan and South Korea are probably better at democracy than the “west” atp
Let’s maybe not include a straight up oligarchy corpo state like south korea in that statement. Better than the usa? Maybe, but they’d even give that a run for the money, and just barely win out.
Japan isn’t much better for oligarchy.
We’re going through a bit of a far-right thing at the moment, so you may want to hold off on that assessment.
Aren’t we all?
And like i said; felt like a totally normal thing to say.
Shit like this is why people need to knock it off with the “iT’s A sCaM” bullshit and embrace crypto. This is the exact kind of issue that using cryptocurrency prevents.
We need to federate money and put it back in the hands of the people. You would think that Lemmy would be into that idea, but instead y’all act like crypto killed your dog and fucked your wife. I don’t get it.
(And before you use the waste of electricity argument, remember that proof of stake is a thing.)
Edit: Well this went exactly how I expected. Just nothing but ignorant downvotes. Not even a single attempt at a decent counter-argument. You people and your hive mentality suck.
That said, shoutout to you, Danny. You get it.
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This reads like a joke. :)
Payment processors setting up an economy where they control what you can and can’t pay for, so funny, good joke
time to move back to cash
You’re going to start mailing cash to Valve with a little note listing your Steam account and what games you want?
For starters, you can buy a steam gift card with cash. Then buy whatever you like with the card.
But i actually meant it more broadly, you can also use cash for other transactions where you are physically present.
I dislike how much power visa and mastercard have gotten, and cash is probably the best alternative for offline private transactions.
Any gift card still needs to be processed by a processor, who could get all up in arms just like MasterCard and Visa.
I mentioned digital transactions because that’s what has been restricted in essentially all cases. They don’t seem to care if you buy porn in person, they just don’t want you buying porn online.
Works for something like PSN. I see cards for sale in local shops. They can presumably be used to claim some funny money in the service that you can pay with.
Steam could probably do the same, but would suck for a smaller operation.
There used to be some cash to BTC machines that would work with any service.
Steam literally already does sell those.
A gift card isn’t cash, legally or literally. Gift cards also require processors. So this could happen again with gift cards, just with a different set of processing companies.
So what’s your answer? Cheques, money orders, cash in the mail? Or maybe MasterCard, Visa, and their ilk shouldn’t legally be allowed to limit legal purchases that haven’t been flagged as fraud.