• 0 Posts
  • 35 Comments
Joined 1 year ago
cake
Cake day: June 22nd, 2024

help-circle














  • Maybe you dont have too many extra fees, but when you use your visa card or MasterCard to buy from a merchant, 3% of the purchase price is paid by the merchant to visa/MasterCard. In the long run that puts prices up because the vendor is passing on those costs to you, the buyer. Its a tricky issue because if you pay cash, the shop has to store, transport securely, and pay to deposit the cash into a business bank account. That might cost around 3% of their takings too. The feeling here is that if you buy 100 pounds worth of shopping, it doesn’t cost visa/MasterCard anything like 3 pounds to process that payment, more like a few pence. So perhaps we are being taken advantage of?





  • I had an objection to google pay for a while, and discovered Barclaycard (credit card in the uk) use an app which would act as a replacement for google pay. Worked perfectly. Of course then I found out how terrible barclays bank is for the environment, so I tap my co-op credit card now. Interestingly, google pay takes nothing when you use them to buy stuff, Applepay grab 0.25% as a transaction fee. Makes them billions per year, and the cost is shared by all of us.