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Unfortunately it doesn't really do that. Card rewards work everywhere and are often additive to merchant loyalty programs. So a purely merchant loyalty reward b
by abalone 12y ago
Unfortunately it doesn't really do that. Card rewards work everywhere and are often additive to merchant loyalty programs. So a purely merchant loyalty reward based system is still a reduction in benefit from the consumer perspective.
- DenisM 12y agoIf merchant is paying 1.5% in CC processing fee (of which 1% goes to consumer in cash back) and has his own 2% loyalty program, switching to bitcoint-rewards(tm) they can set the kick-back at 3% making consumer whole, and pocket the 0.5%.