News for hackers. Stuff that matters.

A comment on The Fed Is Behind the Capital One/Discover Merger. Parent comment

Re:The Fed Is Behind the Capital One/Discover Merger by xur17 on Friday February 23, 2024 @09:18AM (#39480844)
This is why we need a digital cash equivalent. Transferring value shouldn't have to cost 1-3% of the transaction value. It's an absurdly high tax.
[ Parent | on HN ]
Re:The Fed Is Behind the Capital One/Discover Merger by mattmaroon on Friday February 23, 2024 @07:44PM (#39488006)
It is especially because most of the fraud just gets passed onto the merchants anyway
[ Parent | on HN ]
Re:The Fed Is Behind the Capital One/Discover Merger by ac29 on Saturday February 24, 2024 @12:25PM (#39493296)
Debit card transactions in the US are capped to 0.05% + 21c for non-exempt card issuers[0]. The problem is there are a lot of exempt issuers.

[0] https://en.wikipedia.org/wiki/Durbin_amendment

[ Parent | on HN ]