2 ms·
Because in the end it's all about making money off of people trying to buy things. Sure you could say the cost is justified to run the credit card network and
by damm 8y ago
Because in the end it's all about making money off of people trying to buy things.
Sure you could say the cost is justified to run the credit card network and keep it secure. I hope they really do.
- techsin101 8y agothat's fine but 3rd parties in middle contribute nothing. 30cent + 3% is a LOT and many parties take their cut, as if they're transferring real bundles of cash. 3% doesn't come from profit but total reveneue. Say you were a company and made 50 million dollars revenue. then almost $2 million right of the back goes to 3rd parties who didn't contribute to product at all. Just exchange of money caused this. Truly sad in world where you can stream TB of video live to millions of people, sending information hey TRANSFER $50 FROM ACCOUNT A TO B, is costing that.