3 ms·
Seems fairly logical for any large country to create something like this. Visa/MC is nice but allows the US to apply undue pressure to individuals. E.g. the US
by scheme271 5mo ago
Seems fairly logical for any large country to create something like this. Visa/MC is nice but allows the US to apply undue pressure to individuals. E.g. the US applied financial sanctions on ICC officials in the EU resulting in them losing access to Visa/MC credit cards and banks even those are that are purely EU based.
- acarmoi 5mo ago[dead]
- bell-cot 5mo ago> Visa/MC is nice but allows ... Not sure how it is overseas - but in the US, the #1 problem with Visa/MC is the huge percentage that they skim off every transaction. Businesses running on tight profit margins often give a discount if you pay with cash instead.
- scheme271 5mo agoI think the fees are on order of 1-3% depending on your risk and business type. Certainly an issue but it's mitigated a bit by the decreased costs of going cashless. I.e. cashless operations avoids theft by employees; overhead for stocking, counting, and handling money; reduced insurance due to less chances of robbery; etc.
- bell-cot 5mo agoGas stations in my area often give a 3% discount for paying with cash, vs. credit. Leading me to suspect that they're paying 3%+ to Visa/MC. And that the benefits of cashless are nowhere near what its proponents claim.