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Originally Posted by **********
Exactly how do credit card companies take advantage of their positions?
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By charging high processing fees or starting with low fees and slowly increasing them, and by making profit on chargebacks by charging penalties for them.
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- They accept payments for you on your behalf
- They pay you on time
- They take on all kinds of risk for you
- 3rd party billers take on a higher risk for you
- They make it easy for you to sign up
- They don't require a merchant account.
- They provide support and stats
- Some even give you tools to help you sell more.
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Well in case nobody ever told you this... they don't do all these things for you, they do these things for themselves, and they make you part of it, because they need you.
I just think the whole credit card system sucks and was never suitable for e-commerce to begin with. And that's my opinion.