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Merchants raise prices to compensate. That is why it is "the poor, the un-creditworthy, and the financially illiterate" who ultimately pay.
by throwaway76543 8y ago
Merchants raise prices to compensate. That is why it is "the poor, the un-creditworthy, and the financially illiterate" who ultimately pay.
- kasey_junk 8y agoSure but I think the argument is that because those merchant fees are unknowable no one can make intelligent choices around them. The disadvantaged are obviously more impacted but it’s possible that all of us not in credit card employ or shareholder are taxed. A prisoners dilemma sort of thing. But we are well past my economics understanding.
- throwaway76543 8y agoWe know generally what the rates are and the statement above is accurate: "Most people that care get a substantial portion of those fees back (either as cash or rewards)"
- freeone3000 8y agoUnknowable? Visa: https://www.visa.ca/en_CAsupport/small-business/interchange.html https://www.visa.ca/en_CAsupport/small-business/interchange.... Mastercard: https://www.mastercard.ca/content/dam/mccom/en-ca/Documents/Interchange%20Table%20as%20of%20Dec%201%202016(1).pdf https://www.mastercard.ca/content/dam/mccom/en-ca/Documents/... (PDF) AMEX is a bit harder to find, reseller is https://www.helcim.com/ca/american-express/ https://www.helcim.com/ca/american-express/
- kasey_junk 8y agoIts unknowable what merchants are marking their prices up as.