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What does the rest of the world want to do with this? Europe doesn't care for >2% transaction fees, and to people in China used to the convenience of sending m
by stefan_ 7y ago
What does the rest of the world want to do with this? Europe doesn't care for >2% transaction fees, and to people in China used to the convenience of sending money around with WeChat, this whole credit card number business must look positively ancient.
Plastic cards and P(iece)O(f)S(hit) terminals with a RJ45 connector? No man, you just scan this QR code here.
- princekolt 7y agoYou should revisit your concept of what Europe likes. Even in Berlin, the cash-only capital of Europe, I almost never use cash anymore.
- jon-wood 7y agoEurope loves card payments, but you’re much more likely to see people using debit cards because the EU regulates card fees, making it much less common to get credit cards that do cash back or similar reward programs.
- Cu3PO42 7y agoI think the parent is right. The EU has limited the interchange fee for credit cards (like Visa and MasterCard where the scheme and merchant bank are separate entities) to 0.3%. They did not make a statement about whether we like cashless or even contactless payments, just that the associated fees are limited, which makes rewards programs essentially infeasible.
- walshemj 7y agoCost me almost £20 a month and the banks just found other ways to charge the merchants so no voter ever saw a benefit