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In America, retailers wanted the freedom of owning their terminals. This was rational, given near-usurious fees from credit card companies in the past. However,
by pwinnski 7y ago
In America, retailers wanted the freedom of owning their terminals. This was rational, given near-usurious fees from credit card companies in the past. However, it means that now, retailers must finance their own upgrades, and so we all suffer.
- kshacker 7y agoIn America, its always the "freedom" that wins!
- allthecybers 7y agoIn America, its always the "illusion of freedom" that wins!
- pwinnski 7y agoOh, it's freedom--but freedom for whom? Freedom from what? The financier's freedom from regulation makes it easier for them to limit the freedom of the financed. The borrower's freedom from deception makes it harder for the banker to achieve record profits. In this case, the merchants got their freedom, and it seemed like a win for consumers too... until it was time to upgrade.