Are Buy Now Pay Laters the Next Bubble?

Re:Are Buy Now Pay Laters the Next Bubble? by kristofferR on Sunday July 03, 2022 @03:43PM (#31970390)

Credit card rewards are quite stupid, though, as it obviously requires way higher credit card fees than if they weren't a thing. Customers just end up buying higher priced products and potentially getting the higher price difference back as rewards.

In Norway a card transaction with the national system BankAxept costs 0,06% + ~$1 cent per transaction [1], in the US the fees are usually at least a percentage point or two.

[1] https://vipps.no/alle-priser/bedrift/bankaxept-priser/

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Re:Are Buy Now Pay Laters the Next Bubble? by josephcsible on Sunday July 03, 2022 @03:52PM (#31970473)

But we do have some credit cards that don't offer rewards, and they don't charge any lower fees to merchants than ones that do offer rewards do.

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Re:Are Buy Now Pay Laters the Next Bubble? by kristofferR on Sunday July 03, 2022 @03:56PM (#31970506)

It's not about the card per se, it's about the network.

Visa/Mastercard in Norway is about as expensive as in the US. The US doesn't have a widespread miniscule fee/no rewards card network option however, like BankAxept is in Norway.

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Re:Are Buy Now Pay Laters the Next Bubble? by bigjimmyk3 on Sunday July 03, 2022 @10:38PM (#31972955)

As a former merchant, this was not my experience -- I recall seeing a notable difference between fees on similar transactions, and the tracing those differences back to rewards cards.

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Re:Are Buy Now Pay Laters the Next Bubble? by josephcsible on Sunday July 03, 2022 @10:55PM (#31973047)

Do you remember the brand of any of the credit cards with the lower-than-usual fees?

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