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A comment on Visa, Mastercard mull increasing fees for processing transactions: WSJ. Parent comment

Re:Visa, Mastercard mull increasing fees for processing tran... by chrischen on Friday February 15, 2019 @08:10PM (#19176311)
Pro tip: if you go to a Chinese restaurant that offers credit card payments, counteroffer with cash and you can get a discount as high as 10%.
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Re:Visa, Mastercard mull increasing fees for processing tran... by nebolo on Friday February 15, 2019 @08:15PM (#19176341)
Credit card fees are about 2-3%. So if they are doing this, it must come from not charging tax.
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Re:Visa, Mastercard mull increasing fees for processing tran... by amalag on Friday February 15, 2019 @09:01PM (#19176520)
Yup a small chunk of off the book income which goes straight to cash is worth 10% to them
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Re:Visa, Mastercard mull increasing fees for processing tran... by chrischen on Friday February 15, 2019 @08:19PM (#19176358)
They are doing this. Also, there are fees from credit card fraud as well to factor in.
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Re:Visa, Mastercard mull increasing fees for processing tran... by Wowfunhappy on Friday February 15, 2019 @11:26PM (#19177062)
I was under the impression that was factored into the 2–3%. Not true?
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Re:Visa, Mastercard mull increasing fees for processing tran... by chrischen on Saturday February 16, 2019 @10:36AM (#19179033)
Merchants are usually liable for fraud losses (both the loss in good or services + a fee imposed by the bank for the privilege...). This is on top of the transaction costs. Those transaction costs do not cover fraud liability or losses.
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