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I totally disagree with “We proposed merchants "split the difference" in fee savings with their customer, giving customers ~1% in at-checkout "cashback". But th
by nima999 1y ago
I totally disagree with “We proposed merchants "split the difference" in fee savings with their customer, giving customers ~1% in at-checkout "cashback". But this is just a worse version of credit card rewards.”
As a shopper, if I know that a SMB is saving 1% or even 2% on merchant fees, I would gladly choose that option, even if I miss out on rewards for that purchase.
- nottorp 1y agoThe thing is, Visa and MC are doing just fine(tm) on countries where their cut is limited by law to less than 1%. Everything else is just pure profit, no matter who runs it.
- rprend 1y agoThere are no countries which limit Visa and Mastercard’s cut. Visa’s cut is the same ~.14% in the US, Europe, and everywhere else.