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Because they were spending more money on having their personnel tracking down these mistakes. /s The real reason is that payment processors like visa have a la

by jjk166 1y ago

Because they were spending more money on having their personnel tracking down these mistakes. /s The real reason is that payment processors like visa have a large network which is both technically challenging to maintain and has a massive barrier to entry to replicate. There are competitors but these are typically for niche applications, some of which are operated by banks, but beating visa and mastercard at their own game is no small task.

tonymet 1y ago
You're not considering cash losses. In other words these businesses know that paying visa and getting paid late is worth it because they are losing well more than 5% to losses (bad accounting & theft)
- jjk166 1y ago
  I call bullshit on that. Show me the evidence.
  - tonymet 1y ago
    it's self evident context boy
    - jjk166 1y ago
      If it's self evident it should be very easy to provide evidence of its truth, so do so.
      - tonymet 1y ago
        go outside dude
- carefulfungi 1y ago
  Tell me you've never worked as a cashier ... NRF reports that total retail shrinkage in 2021 was 1.44% - from all sources. > The survey found that the average shrink rate in 2021 was 1.44%, a slight decrease from the last two years but comparable to the five-year average of 1.5% Apparently the most recent survey was 1.66%.. https://invue.com/resource-center/blog/6-retail-shrinkage-statistics https://invue.com/resource-center/blog/6-retail-shrinkage-st...