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If the title is accurate, this effectively means prices are going up another 3%+ on everything over the next few years. People don't usually lower prices. If
by bsimpson 13y ago
If the title is accurate, this effectively means prices are going up another 3%+ on everything over the next few years. People don't usually lower prices.
If someone was selling a $10 pizza before and paying 60c in payment processing, he's most likely gonna charge $10.60 for the pizza now and call the 60c additional profit. I'd be very surprised if most merchants decided to keep charging customers with cards $10 and give a 60c discount to cash customers.
- graeme 13y agoAre there any studies on this? It's something I've wondered about. In an efficient market, competition would force retailers to reduce prices. But efficient markets don't exist, especially not in the short term. I'm most interested in the long run effect. How would a shift in CC fees play out over the long term and through the whole supply chain.