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The credit card servicers aren't eating the losses - they offload these onto the merchants. So retailers are already eating the risk while also paying fees.
by infinite8s 12y ago
The credit card servicers aren't eating the losses - they offload these onto the merchants. So retailers are already eating the risk while also paying fees.
- Istof 12y agoThe customer end up paying for it anyway you look at it but at least the credit card insurance comes with it.
- MBCook 12y agoThey're also getting the benefit of easy and quick payment. If a big chain tried to go cash and check only, how well do you think that would go over? Even if they included debit cards, my guess is it would be a big problem. I bet shareholders would revolt. The only reason they may get away with this is Apple Pay isn't established yet so there is no perceived 'loss'. Another commenter was right that if Apple pay impacts their growth numbers they may be forced to reconsider.