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> “It is kind of like credit card payments, with the bonus that there are no returned payments,” Polis said. For me (live outside US) this sounds a little stra
by tnzk 5y ago
> “It is kind of like credit card payments, with the bonus that there are no returned payments,” Polis said.
For me (live outside US) this sounds a little strange, are returned payments on tax payments happen so often that a governor has to mention it?
- Dwolb 5y agoI’d guess the complexity of operations around returned payments are outsized compared to their dollar value. eg if 1% of payments are returned, they need to devote 10% of their operational overhead to it.
- acdha 5y agoIt affects processing overhead rates. Even if you have a very low rate of returns you are paying the bank for the possibility that this would happen, so I can easily understand someone looking at a charge which adds up to n million dollars a year and thinking it’s worth saving.