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Joined 2 years ago
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Cake day: March 2nd, 2023

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  • A public credit card processor option might help, since competition amongst large private processors isn’t able to keep fees low. Retailers and citizens could compare fees between public and private processors, see the difference when a processor doesn’t give cashback nor perks to fancy card owners.

    Nationalising or replacing all private processors isn’t going to happen any time soon. Adding a public option seems more realistic.


  • Accepting cash costs the retailer nothing. Accepting a debit card issued by a large bank costs it 0.05 percent, plus some change […], and a fancy rewards card as much as 4 percent.

    Why the hell would retailers accept to pay 4% transaction fees? That’s very high. Unless banks or card processors are diluting fees so that retailers just see average rates?

    In any case, pressure from retailers against high-fee cards could help.