Thread

1. unified101 · 1791017006 · focus · HN ↗

   The actual answer is there's operational cost to handling cash, or payment methods beyond the ones that cover 99.9% people well. You pay more for the extra hassle the whole system has to serve that .1%

   You may not like or disagree with it. But it's the true answer.

   1. bell-cot · 1791018258 · focus · HN ↗

      I don't know Britain, but in my part of America the extra costs of taking credit cards are so high that most gasoline (petrol) stations give a ~3% discount to customers paying with old-fashioned paper cash. And I know little grocery stores with signs by their register, asking customers to please pay with cash - because margins are tight, and the bank takes an X% cut of every credit card payment and a Y% cut of every debit card payment.

      1. kakacik · 1791023117 · focus · HN ↗

         Well from what I've heard folks in US frequently revert credit card transactions, something almost impossible to do with same companies in Europe for example (tried it once, got automated feedback email in 2 weeks and nothing happened).

         Just life frequent insurance accidents, this raises overall costs. May be some other forces too of course

         1. snottynose · 1791037627 · focus · HN ↗

            It is possible in Europe with credit cards and with SEPA Direct Debit (commonly used for recurring debits such as subscriptions), but indeed regular bank transactions are difficult to reverse. To me this is the big benefit of credit cards and Paypal: it gives the consumer real leverage when disputing a transaction, and it shifts some of the burden to resolve the issue to the vendor.

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