Visa Inc's Amazon blues will shape the digital cash debate

E-commerce and social media giants could use this cash flowing into their tokens to offer credit to merchants, with repayments deducted on every sale at zero collection cost

After a long time, the balance of power in the world of money is shifting. Amazon.com Inc’s decision to stop accepting purchases made with Visa Inc’s UK-issued credit cards from next year shows that Big Tech is flexing its muscles against established financial networks. Some policy makers must already be thinking, “This is why we need sovereign digital cash — to stop a bunch of unregulated players from calling the shots in payments.” But is it really that simple?

The immediate fallout of the fracas over Visa’s high fees may be to give a boost to rival Mastercard Inc, and not