Fiserv squiring first data

So this was in my feeds this morning. I feel that it will further erode what little competition in transaction fees exist today.

It’s important to understand how money movement actually works. Stripe provides a nice abstraction layer , but the big power/gravity is Firsr Data. They have a set of gateways into the financial institutions. It’s a million dollars (plus hardware/software/contract) costs to get a First Data gateway.

In a past life , I did an implementation of such a gateway. Along with lots of ACH and other money movement / MSB work.

It is deeply disturbing to me to see this consolidation.