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which is why i prefer not to call it a tax, but a toll, or a levy. Or extortion money, if less charitable. I also always wonder what stops competition from en
by chii 3y ago
which is why i prefer not to call it a tax, but a toll, or a levy.
Or extortion money, if less charitable.
I also always wonder what stops competition from encroaching on these credit card fees and reduce it.
- lotsofpulp 3y agoBecause the sellers benefit from people using credit to purchase goods and services, because more people are willing to pay more when they use credit. If that were not true, then sellers have long had the option of refusing payment via credit card, or at least offering discounts for debit card. But they do not, because overall, they earn more money from the higher prices that their customers are willing to pay with credit cards than the cost of the credit card processing fees.