<ul><li>Fintech expert Felipe Izquierdo discusses challenges facing card networks in payments industry.</li><li>Visa and Mastercard, backbone of global payments, face challenges in adapting to evolving market dynamics.</li><li>Shift in payment landscape towards experimentation, quick product integration, and software-driven services.</li><li>Traditional model of card payments under pressure as alternatives like Pix in Brazil and FedNow in the U.S. emerge.</li><li>Regulatory pressure on interchange fees challenges Visa and Mastercard's revenue model.</li><li>Vertical integration and platform expansion key for companies like Toast and future success in payments sector.</li><li>Visa and Mastercard making acquisitions and investments in modernization, but fundamental shifts yet to be seen.</li><li>Need for adaptability and quick evolution for card networks to stay competitive in changing payments landscape.</li><li>Future success for card networks lies in vertical solutions, strategic agility, and product innovation.</li><li>Mastering the next era of payments requires new skills beyond historical core competencies for card networks.</li></ul>

Rethinking the Rails: The Challenges for Card Networks

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