The case for why Google should be regulated as a public utility

Re:The case for why Google should be regulated as a public u... by revnode on Tuesday August 11, 2020 @12:00PM (#24121824)

While Visa and Mastercard are the big fish in the sea, they do have competition. There is also Discover and American Express. They also charge similar rates, which suggests that 3% fee isn't random. Not sure where 4%/5% came from, fees average out to somewhere between 2%-3% for small merchants.

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Re:The case for why Google should be regulated as a public u... by pb7 on Tuesday August 11, 2020 @12:05PM (#24121904)

It's just price stickiness. Same reason why all music streaming platforms charge $10/month and something like $15/month for a family plan.

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Re:The case for why Google should be regulated as a public u... by tempsy on Tuesday August 11, 2020 @12:05PM (#24121896)

almost all processors add a fixed fee on top of the 3% eg 30 cents. if you are a coffee shop or convenience store that is a much higher % of the average purchase price than a merchant that sells something more expensive.

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