alt Hacker Newsuh, I'm including the card issuers as participants in this multi-party scam
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fragmede • yesterday at 9:50 PM
It's still costing them > 3%.
uh, I'm including the card issuers as participants in this multi-party scam
It's still costing them > 3%.
it is illegal for Merchants to charge credit card processing fees by law, they have to absorb these fees and cannot display them to the customer.
This naturally protects the artificial oligopoly of visa/mc/discover systems.
The moment you allow Merchants to charge cc fees (even 2-3%) and allow customer to choose low processing option (ACH/debit card/cash), the whole scheme falls apart and Visa/MC will slowly go bankrupt