Chip Cards Slap U.S. Merchants With Unexpected Higher Debit Fees

F

FutureSelf

New member
The thread title is the title of an article written on May 11, 2016 by Bloomberg.

Sadly, the "higher fees" for processing include expensive equipment and slower transactions. VISA went backwards with their technology - is that even possible?
  • "...Some merchants have seen their debit-transaction fees increase by about 20 percent since Oct. 1"
  • "...They had to pay for new point-of-sale equipment, stand in long lines to have it certified, train store associates, and deal with transactions that take about 10 seconds more than the old cards with magnetic stripes."
If your really think about that last bullet point, VISA has pulled something off that should be considered a business miracle! You pay for the equipment, we charge you 20% more for the service which is slower than before - genius!

As you read the article, you could almost draw the conclusion that Visa & MC set the "chip cards" in motion not to prevent fraud, but to ensure increased revenue.

Here is the link to the Bloomberg article:


Dash Team:

Your unique selling proposition (USP) is your planned Instantx - don't let up!

It separates you from Ethereum, Bitcoin and the other eight-thousand alt-currencies out there.

You will be welcomed with open arms from merchants becuase they have been beaten down yet again by an antiquated and monopolized financial system.

Considering Bank of America created VISA, it really shouldn't be surprising it has gotten worse instead of better - http://www.creditcards.com/credit-card-news/history-of-visa-1273.php.​
 
FutureSelf said:
The thread title is the title of an article written on May 11, 2016 by Bloomberg.

Sadly, the "higher fees" for processing include expensive equipment and slower transactions. VISA went backwards with their technology - is that even possible?
  • "...Some merchants have seen their debit-transaction fees increase by about 20 percent since Oct. 1"
  • "...They had to pay for new point-of-sale equipment, stand in long lines to have it certified, train store associates, and deal with transactions that take about 10 seconds more than the old cards with magnetic stripes."
If your really think about that last bullet point, VISA has pulled something off that should be considered a business miracle! You pay for the equipment, we charge you 20% more for the service which is slower than before - genius!

As you read the article, you could almost draw the conclusion that Visa & MC set the "chip cards" in motion not to prevent fraud, but to ensure increased revenue.

Here is the link to the Bloomberg article:


Dash Team:

Your unique selling proposition (USP) is your planned Instantx - don't let up!

It separates you from Ethereum, Bitcoin and the other eight-thousand alt-currencies out there.

You will be welcomed with open arms from merchants becuase they have been beaten down yet again by an antiquated and monopolized financial system.

Considering Bank of America created VISA, it really shouldn't be surprising it has gotten worse instead of better - http://www.creditcards.com/credit-card-news/history-of-visa-1273.php.​
Click to expand...

Great find!
 
I don't know that visa has gotten worse. Perhaps more expensive for everyone concerned...
Credit cards do serve a purpose. I've personally used them plenty !!
And I paid for their use.
I have no doubt they will change terms any time they feel it would improve their advantage.
I have personally experienced that.

To include a partner in ones own affairs is just about the same as being subservient to another.
You must give them control to gain their attention.
This is a good thing to avoid.

P2P is a good way to interact with others. Probably the best ! imo

Best
rc
 
My experience has been more like 30 - 45 seconds....... tick-tock tick-tock......
 
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