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A comment on Plaid paid people $500 for their employer payroll logins. Parent comment

Re:Plaid paid people $500 for their employer payroll logins by hahaxdxd123 on Wednesday May 12, 2021 @10:57AM (#27131091)
I feel like this is just a more general trend of US legislators deadlocked so hard that it provides rent seekers the opportunity to step in and entrench themselves. I would argue that healthcare - which you mentioned - is another prime example of this.

If you think about it, the payments system is a 2+% sales tax! Levied by private corporations! I don't even have an alternative since by contract with Visa/MC stores can't provide a lower price for paying cash.

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Re:Plaid paid people $500 for their employer payroll logins by ac29 on Wednesday May 12, 2021 @11:12AM (#27131276)
> I don't even have an alternative since by contract with Visa/MC stores can't provide a lower price for paying cash.

This hasnt been true for over a decade. Cash discounts are allowed by the Durbin amendment.

See: https://www.law.cornell.edu/uscode/text/15/1693o-2 (b)(2)(A)

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Re:Plaid paid people $500 for their employer payroll logins by hahaxdxd123 on Wednesday May 12, 2021 @11:40AM (#27131583)
Ahh thanks for the correction. This seems like it's still pretty consumer unfriendly though - you still have to advertise the card price in store and then you can take a discount at the register, as opposed to advertising a cash price and then adding a card charge.

There are a lot of small businesses around me that are cash only under $10/15 dollars. Given human psychology around advertised prices (i.e. most people don't think about opportunity cost), I'm not surprised cash discounts aren't common.

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