VISA offers restaurants $10,000 to stop accepting cash

Re:VISA offers restaurants $10,000 to stop accepting cash by raverbashing on Saturday July 15, 2017 @02:35AM (#14775304)

> Big interchange fees enable credit card companies to offer sweet rewards to big-spending consumers and get paid by the banks that issue the cards—at the expense of small businesses and customers.

> Swipe fees at a cafe become part of the price of a cup of coffee, principally to the detriment of cash customers and “vanilla” cardholders who aren’t earning airline miles when they get their caffeine fix.

And that's why I avoid card transactions at "Mom & Pop" stores

Yes, It's good to remember those "cashbacks" and miles are not free, they came from somewhere

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Re:VISA offers restaurants $10,000 to stop accepting cash by viraptor on Saturday July 15, 2017 @02:54AM (#14775372)

I'm assuming that all the stores for which accepting card payment makes a difference already adjusted their prices (in one way or another) to cover it. By using cash you're just paying more to offset the card fees. A lot of small places I know tell you to pay the card fee extra instead - and that's a pretty cool solution.

The card fees are not the main source of income as far as I understand: it's the interest and other fees that really bring in the big money.

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