LogFAQs > #970773499

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Topic	So I was reading up on credit in the US and it's kinda blowing my mind
Lopen 01/11/23 11:29:10 AM #21:	MacArrowny posted... This is kind of a bad system too. Credit card companies benefit, and so do responsible customers, but retailers definitely lose out since they're paying for those benefits, particularly smaller retailers. Well kinda, but retailers can opt in so it's like whether you're willing to do that is up to you. For example I run my own business and don't accept credit card payments because I don't want to pay that fee. People can pay me with cash or check or ACH. A different business may find that fee worth their time to draw more customers. It's not like the retailer is getting gouged unless they want to but the convenience for the customer is generally worth it. --- No problem! This is a cute and pop genocide of love! <cite>Lopen posted [p:970773499] in So I was r... [t:80308260]...</cite> <quote>MacArrowny posted... </cite><quote>This is kind of a bad system too. Credit card companies benefit, and so do responsible customers, but retailers definitely lose out since they're paying for those benefits, particularly smaller retailers.</quote>Well kinda, but retailers can opt in so it's like whether you're willing to do that is up to you. For example I run my own business and don't accept credit card payments because I don't want to pay that fee. People can pay me with cash or check or ACH. A different business may find that fee worth their time to draw more customers. It's not like the retailer is getting gouged unless they want to but the convenience for the customer is generally worth it. --- No problem! This is a cute and pop genocide of love!</quote> ... Copied to Clipboard!
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