VISA screws people, corporate exec fails to see it happening anywhere else

“What we witnessed was truly a perverse form of competition,” said Ronald Congemi, the former chief executive of Star Systems, one of the regional PIN-based networks that has struggled to compete with Visa. “They competed on the basis of raising prices. What other industry do you know that gets away with that?”

Off the top of my head?  Cable TV, Internet, and cell phone providers.  Especially cell phone companies.   I’m sure there are many others – large companies love that kind of environment, where there is a captive audience.  That’s not perverse; that’s the American Way.

Update:  Headline fixed.  Sorry about that.

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