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I get what you're saying, but those systems don't pay for themselves. How should payment processing be funded if not per transaction?
by devoutsalsa 3y ago
I get what you're saying, but those systems don't pay for themselves. How should payment processing be funded if not per transaction?
- sumedh 3y ago> How should payment processing be funded if not per transaction? reply Taxes? Do you pay a toll to use each and every road for your car? Do something like what India has done.
- cj 3y agoThe "road toll" may not be the best example. At least in New York, you pay a toll every time you cross most bridges and every time you enter/exit a thruway (aka "freeway" in other parts of the country)
- sumedh 3y agoSo in New York do you have to pay a toll for each and every road, if not then its a good example.
- lvl102 3y agoIt only made sense when banks were much smaller and we didn’t have smartphones and cheap internet. You’re paying for a network that’s lost value. You’re paying for a brand at this point. It’s a scam.
- nulbyte 3y agoEven a flat fee would be better. Cost doesn't really increase with higher dollar transactions; cash doesn't physically move just because a card was used.