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It's also a way for them to save on credit card processing fees by trading the fees of multiple (relatively) small drink purchases for one fee for the gift card
by ZooCow 3y ago
It's also a way for them to save on credit card processing fees by trading the fees of multiple (relatively) small drink purchases for one fee for the gift card purchase.
An often overlooked innovation of iTunes was delayed billing, which converted multiple separate song transactions into one bundled transaction to save on credit card transaction fees.
- Loic 3y agoHighway tolls in France have been doing it for something like 20 years.
- capableweb 3y agoYeah, but not in the US so obviously it doesn't count as true innovation.
- deleted 3y ago[deleted]
- rottencupcakes 3y agoBelieve it or not, Fastrak has been doing this for tolls in the Bay Area for something like 20 years.
- rcme 3y agoE-ZPass, which does tolling in the north east, is 36 years old.
- hondo77 3y agoThe iTunes Store turns 20 in two days.
- cuteboy19 3y agoThe concept of weekly monthly settlement is ancient. Banks have been doing it for centuries
- hammock 3y ago>delayed billing, which converted multiple separate song transactions into one bundled transaction to save on credit card transaction fees. Uber and Lyft do it now. It ought to be illegal, or opt-in (with a discount to the customer). Delayed billing wreaks havoc on the majority of Americans who live paycheck to paycheck
- xwdv 3y agoIt does not wreck anymore havoc than lots of separate transactions pushing them deeper into debt.
- SketchySeaBeast 3y agoIf you're watching your credit card to know how much money you have left won't the Uber rides not reflect until they do a mass bill?
- xwdv 3y agoThat’s not how credit cards work. A credit line isn’t “money you have left”, it’s the max you can borrow.
- SketchySeaBeast 3y agoI'm not confused how credit cards how work. If someone was checking their balance so that they can properly budget a company delaying the charge would deprive them of that insight.
- inyourtenement 3y agoI don’t think they wait very long. I used Lyft recently and they only combined charges within a single day.
- SketchySeaBeast 3y ago