3 ms·

Debit card fees are closer to 0.3% to 0.5% or so, than 2% or 3%. See e.g. https://www.cardswitcher.co.uk/2016/05/uk-card-processing-fees-change-2016-2/ https://

Debit card fees are closer to 0.3% to 0.5% or so, than 2% or 3%. See e.g. https://www.cardswitcher.co.uk/2016/05/uk-card-processing-fees-change-2016-2/ https://www.cardswitcher.co.uk/2016/05/uk-card-processing-fe... Of course in the UK fees have been "banned" a few weeks ago, which means everybody will get charged the fees via price increases, effectively subsidizing card users.

FabHK 9y ago
Most merchants accepting credit card are not allowed to charge extra for credit card use (by the merchant agreement), thus card users have always been subsidised, with the difference being that credit cards do charge 2% to 3%. My point is that both cash and modern cashless payment systems (debit/cash cards) are way better than oligopolistic credit cards with their gaudy marketing and high fees.