I remember over 15 years ago my wife and I were honeymooning in Europe (rom the US). While we had iOS devices that could use maps, the data services then were terrible, and GPS was effectively useless
We ended up taking screen shots of Google Maps where we zoomed in on local streets, on an ad hoc type atlas. I wish we had this app back then
Payments are much more complicated than just who your issuer is. As noted in other comments, connecting the customer directly to the aquirer can lose significant functionality. Pre authorization, installments, card on file and other typical services may be offered differently than expected, or not at all.
In addition, Mastercard and Visa still write the rules for industry. If at some point advanced Mastercard or Visa 3ds security significantly reduce fraud, and thus rates, consumers may start paying more for issuers that dont support similar technologies.
On top of all of this, point of interaction device support may lag. The latest features from Ignenico and such may take a while to implement, or again may not be supported at all for smaller financial companies.
All that being said, it’s great for consumers to have the choice, and hopefully we all benefit from increased competition.
There are situations where internet access is limited, or where there are frequent outages. An outdated LLM might be more useful than none at all.
For example: my internet is out due to a severe storm, what safety precautions do I need to take?
We ended up taking screen shots of Google Maps where we zoomed in on local streets, on an ad hoc type atlas. I wish we had this app back then