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That's completely arbitrary though. They could also increase prices without any interchange fee. If people are willing to pay, the price goes up. Cost (of whic
by imustbeevil 3mo ago
That's completely arbitrary though. They could also increase prices without any interchange fee. If people are willing to pay, the price goes up.
Cost (of which the interchange fee is but one) only affects the lowest possible price. No one ever gets that price.
- bryanlarsen 3mo agoPeople wouldn't be willing to pay the extra amount if it was cheaper at the store across the street. But the store across the street also has to pay the interchange fee, so they're not cheaper.
- chneu 3mo agoCC fees are transferred directly to customers. It isn't arbitrary. There are plenty of low cost stores that don't accept CCs for this reason: it hurts low income people more than others. It saves 2-3% to the consumer for grocery stores.