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Similar dynamic with credit cards, where retailers are forbidden from offering a cash discount. Though some skirt this using rewards programs— in Canada for exa
by mikepurvis 4y ago
Similar dynamic with credit cards, where retailers are forbidden from offering a cash discount. Though some skirt this using rewards programs— in Canada for example, Canadian Tire gives you more Canadian Tire "money" if you pay with debit or cash.
- account42 4y agoBest price requirements should be straight up illegal IMO.
- mikepurvis 4y agoIn fairness, if credit card processors hadn't been permitted to require that and customers had had to pay the fee, credit cards would never have achieved liftoff. Which is maybe as much of an argument as any, if it had put pressure on the processors to minimize or eliminate the fee and find alternative revenue streams to sustain themselves and build out the network. Instead we got a world where the fee has been static forever and the gains from automation have gone to cashback and rewards programs for customers, ultimately making it more expensive to pay with cash.