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Let's hope visa doesn't convince society that getting rid of cash is the future. Not only would that be a terrible blow to privacy, it would entrench the need t
by gregw134 9y ago
Let's hope visa doesn't convince society that getting rid of cash is the future. Not only would that be a terrible blow to privacy, it would entrench the need to pay Visa or another credit card company 2% of every transaction.
- __jal 9y agoI'll stop eating at any place that doesn't take cash. I mostly use cash for small transactions, because I like it. As you say, I see no reason why the CC cartel should get 1/50th of retail transactions by virtue of being too big to fail (or too big to stop from colluding).
- Spivak 9y agoNah, let Visa destroy themselves with terrible business decisions. If they successfully eliminate cash then the logical step is to create a nationalized payment processor.
- dragonwriter 9y agoExactly; when banknotes displace coin as the main payment mechanism, it wasn't long till government extended their monopoly to banknotes. So, yeah, I can see VISA inadvertently hastening the day when everyone pays with their Federal Reserve Card.