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>With micro-payments, you can't deal in actual currency. You have to move around some kind of "Credits" that at some point get exchanged back to currency in bul
by tsotha 12y ago
>With micro-payments, you can't deal in actual currency. You have to move around some kind of "Credits" that at some point get exchanged back to currency in bulk to a payment processor, otherwise the transaction fees are greater than the payments themselves.
Which prompts me to wonder why transaction fees are so high.
- KFW504 12y agowell, they aren't exactly priced on a cost basis
- tomjen3 12y agoBecause they are a cartel. It the marginal price for a transaction is pretty close to zero, so the fact that the price is noticable means that credit card transaction are not operating in an efficient market.
- tsotha 12y agoJust because the marginal price is near zero doesn't mean you're not going to pay a lot. The marginal price for software is near zero as well. You may be right about it being a cartel, but the marginal price doesn't tell you much.