Re:In Urban China, Cash Is Rapidly Becoming Obsolete
by nopzor on Monday July 17, 2017 @03:39AM
(#14786391)
yeah, and Walgreens will allow you to buy a 40 cent pack of gum with a credit card. They are surely losing money on that transaction. Your donut shop is losing over 30% when they let you buy a single donut for 1.50$ with your card. That's why sane merchants (often independent) will have a minimum. This isn't a NYC specific thing at all.
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Re:In Urban China, Cash Is Rapidly Becoming Obsolete
by muninn_ on Monday July 17, 2017 @06:52AM
(#14787261)
Where do you get this 30% number?
Re:In Urban China, Cash Is Rapidly Becoming Obsolete
by urethrafranklin on Monday July 17, 2017 @07:15AM
(#14787406)
Typical minimum credit charge is 30 cents plus a percentage of the gross.
Re:In Urban China, Cash Is Rapidly Becoming Obsolete
by seanmcdirmid on Monday July 17, 2017 @09:05AM
(#14788086)
These are very high interchange numbers. I think it was bad like that in the past, but not today.
Re:In Urban China, Cash Is Rapidly Becoming Obsolete
by nopzor on Monday July 17, 2017 @12:25PM
(#14789964)
interchange can be pretty high, especially for premium reward cards. what changed recently was interchange on debit cards (which used to be much higher in the US). this is why debit issuers no longer offer any real sort of "points" or cashback on debit. and why debit and cash users essentially subsidize credit card users in the US