Not sure when I said they would compete - I was saying that visa has changed multiple times over a long period of time. Bitcoin needs to change. Visa charges around 2% but there are multiple fees from the companies who do the interchanges as well. It’s going through about 3 different companies per transaction, then to the bank. Bitcoin will have to change to improve speed and fees, but there are definitely advantages to a peer to peer network.
The 2% is what is split between all entities touching that transaction.