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> And if this is just refunding the purchases, it's kind of a good deal for Epic. As they essentially got an interest free loan from their customers. Just a mi
by RussianCow 4y ago
> And if this is just refunding the purchases, it's kind of a good deal for Epic. As they essentially got an interest free loan from their customers.
Just a minor note: I believe credit card transaction fees are not refunded to the vendor, so there is still a non-zero cost to refunding customers which likely doesn't make it a "good deal".
(Disclaimer: It's been over a decade since I did anything related to payments, so this may be out of date, or I may be misremembering it.)
- bena 4y agoNo, that sounds if not outright correct, at the very least in the ballpark of close enough. And I'm not totally up on the transaction fees, but they're typically in the low single digit percentages. And you only get hit once. So even on the higher side, you're looking at making up 3%. Which is way more likely than making up 30% in the same timeframe.