4 ms·
An interesting thought experiment: what if a store let you pay by bank wire (let's say $20 fee) Would you stick to your guns and say that cash users have to su
by do_not_redeem 2y ago
An interesting thought experiment: what if a store let you pay by bank wire (let's say $20 fee)
Would you stick to your guns and say that cash users have to subsidize expensive wire fees? Or is that too much, and the fairness ends at subsidizing the expensive credit card fees? If so, why the distinction? If you could pay by bitcoin, should cash users pay the bitcoin transaction fees too? :)
Also, do you really think 3% is a fair tax on the entire economy that we should be giving to the duopoly of MC/Visa, when they only charge 0.3% in most of the rest of the world? The only reason they charge so much here is because they can get away with gouging due to our non-functional regulatory environment. I don't know why so many people accept 3% as a law of nature or something when the cost of handling cash is far less than that.
- bdangubic 2y agoif paying by bank wire costs $198 and you want to offer it as a method of payment - it is on YOU. amazing people here don’t understand that there is a cost of running a business. you don’t want to pay Visa 11% - don’t. you don’t want to pay apple 30% - don’t make ios apps. it is that simple mate
- do_not_redeem 2y agoSo your point of view is that businesses shouldn't be allowed to give customers choices that have different costs and charge them fairly? Every option has to cost exactly the same for everyone? How do you feel about shipping options then? Should Amazon charge the same for 5-day ground as they do for overnight shipping?
- bdangubic 2y agoyou do realize you are comparing apples to oranges? charging customers for usage of credit card is specifically forbidden so any business doing is in breach of contract!! this has nothing to do with shipping options. you cannot charge me money for using a credit card mate, it is 2024 (soon to be 2025).
- wrs 2y agoIn the US, credit card surcharges have been permitted since that contract provision was invalidated in 2013. There are some restrictions that vary by state. [0] [0] https://staxpayments.com/blog/credit-card-surcharge-guidance/ https://staxpayments.com/blog/credit-card-surcharge-guidance...
- do_not_redeem 2y agoSo your arguments are: 1. Visa/MC should be allowed to overcharge and we should all accept it because Visa/MC said so in their contracts. 2. You like using credit cards, and things that you personally like should be free in 2024, and other people should pay extra to subsidize your personal preferences. I'm not convinced. I don't think your personal preferences will be enough to reverse the trend of businesses charging fair prices for different payment methods either. But you're welcome to try.
- bdangubic 2y ago1. yes 2. never said that. usage of credit cards should 100% NOT be free. the businesses should however offer it and pay whatever that costs
- TheDong 2y ago> the businesses should however offer it and pay whatever that costs So, in other words, you're in favor of a minor tax on those worse off than you, with poor credit score or otherwise can't get a credit card, so that you don't have to think about how your credit card company is ripping the merchant off. If the business doesn't write that "3% for credit card users" down, and 90% of their customers use credit cards, their logical next step is to instead increase the price of all items by 2.7%, which lets you save a minor amount of money by screwing over those who are worse off. If you just actively want to worsen the life of poorer people for your own benefit, well, I guess you're at least on the right site for it. May I recommend applying for the YC spring batch.
- 2y ago