11–20 of 389 posts
Good? I hate the asinine secondary market of "points". Just don't take the money in the first place and then we don't have to sort out how I can reclaim it somehow.
Good? I hate the asinine secondary market of "points". Just don't take the money in the first place and then we don't have to sort out how I can reclaim it somehow.
I've found it very difficult to try to explain this well to people who aren't financially/numerically-inclined. The latest fad in Canada seems to be Paytm, which lets you pay (among various bills), your property taxes with your credit card.
Earlier quoted context omitted.
I've found it very difficult to try to explain this well to people who aren't financially/numerically-inclined. The latest fad in Canada seems to be Paytm, which lets you pay (among various bills), your property taxes with your credit card.
That’s available in many places in USA as well though everywhere I’ve seen charges a transaction fee which nets it negative for the consumer.
Good? I hate the asinine secondary market of "points". Just don't take the money in the first place and then we don't have to sort out how I can reclaim it somehow.
So you hate getting something back for choosing one payment method over another when there's no indication that retail stores would lower their prices if credit cards (and their transaction fees) were wiped out?
Competition will lead to that. It doesn't happen immediately, it happens in waves. These are called price wars. When that happens, they try to undercut competition at every possible turn, and having lower payment processing fees allows them to go lower. Who wins a price war? The consumer.
Yes: points are ridiculous. The fact that credit card fees are passed on to cash payers is ridiculous. Visa and Mastercard are absolutely minted. Where does that money come from? You and I.
(and: why does competition not work for Visa and Mastercard as well as it does for retailers? Because the feedback loop is much longer. Intractable, in practice. Choosing one retailer or the other is a clear signal we can send. But are we going to choose merchants based on payment processor support? As for merchants, they're stuck in an oligopoly. Competition is gone, leading to this unhealthy market.)
Good? I hate the asinine secondary market of "points". Just don't take the money in the first place and then we don't have to sort out how I can reclaim it somehow.
So you hate getting something back for choosing one payment method over another when there's no indication that retail stores would lower their prices if credit cards (and their transaction fees) were wiped out?
They are probably illegal (or against contracts) in most states, but you see them very often.
Good? I hate the asinine secondary market of "points". Just don't take the money in the first place and then we don't have to sort out how I can reclaim it somehow.
Earlier quoted context omitted.
I've found it very difficult to try to explain this well to people who aren't financially/numerically-inclined. The latest fad in Canada seems to be Paytm, which lets you pay (among various bills), your property taxes with your credit card.
That’s available in many places in USA as well though everywhere I’ve seen charges a transaction fee which nets it negative for the consumer.
Good? I hate the asinine secondary market of "points". Just don't take the money in the first place and then we don't have to sort out how I can reclaim it somehow.