Visa and Mastercard to raise fees on small debit transactions - GoFuckYourself.com

mafia_man · 09-23-2011, 07:00 AM

http://www.bloomberg.com/news/2011-0...lyst-says.html

BIGTYMER · 09-23-2011, 07:23 AM

Greed. They need more competition.

Scott McD · 09-23-2011, 07:30 AM

Fucking chancers...

Bladewire · 09-23-2011, 08:05 AM

Good find

An increase of almost 300% and this:

"The fee increase could be an attempt by San Francisco-based Visa and MasterCard to recoup fees for banks, to affect consumer use of mobile payment services or to influence a pending lawsuit, McCrohan wrote. The caps may reduce revenue at U.S. banks by $8 billion, data compiled by Bloomberg Government show."

Banks have been flexing their power against the administration for a couple years now. Pretty pathetic.

wehateporn · 09-23-2011, 08:11 AM

We wouldn't want them to go hungry

Failed · 09-23-2011, 08:29 AM

They can just do whatever the hell they want and we can't do a damn thing about it except raise prices to reflect the fees. Bitcoin was a nice start, and we need more ideas like this.

L-Pink · 09-23-2011, 08:40 AM

Believe it or not there was a time when Visa/MC charges were done with a multiple copy paper transaction. A lot of hands on steps were required for processing and payment to the vendor. A vendors "rate" was based on average transaction. Simply put each transaction for a appliance store would be a lower percentage than for a restaurant for example.

With each step now being electronic what you are seeing is just another money grab.

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sperbonzo · 09-23-2011, 09:01 AM

Don't complain. Use and support other payment methods. VISA and MC don't own you, and they can't use force to make you use them. You are free to choose not to do business with them if you wish. They are free to not do business with you if they wish. Everyone has freedom of choice here.... until governments get involved of course. Then force can be used to make everyone comply.

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wehateporn · 09-23-2011, 09:03 AM

Quote:

Originally Posted by sperbonzo

Don't complain. Use and support other payment methods. VISA and MC don't own you, and they can't use force to make you use them. You are free to choose not to do business with them if you wish. They are free to not do business with you if they wish. Everyone has freedom of choice here.... until governments get involved of course. Then force can be used to make everyone comply.

.

09-23-2011, 07:00 AM	#1
mafia_man Confirmed User Industry Role: Join Date: Jul 2005 Location: icq#: 639544261 Posts: 1,965	Visa and Mastercard to raise fees on small debit transactions http://www.bloomberg.com/news/2011-0...lyst-says.html __________________ I'm out.

09-23-2011, 07:30 AM	#3
Scott McD Too lazy to set a custom title Join Date: Nov 2002 Location: Glasgow, Scotland Posts: 67,795	Fucking chancers... __________________ I Buy My High Quality Traffic Here, You Should Too!

09-23-2011, 08:05 AM	#4
Bladewire StraightBro Industry Role: Join Date: Aug 2003 Location: Monarch Beach, CA USA Posts: 56,229	Good find An increase of almost 300% and this: "The fee increase could be an attempt by San Francisco-based Visa and MasterCard to recoup fees for banks, to affect consumer use of mobile payment services or to influence a pending lawsuit, McCrohan wrote. The caps may reduce revenue at U.S. banks by $8 billion, data compiled by Bloomberg Government show." Banks have been flexing their power against the administration for a couple years now. Pretty pathetic. __________________ Skype: CallTomNow

09-23-2011, 08:11 AM	#5
wehateporn Promoting Debate on GFY Industry Role: Join Date: Apr 2007 Posts: 27,173	We wouldn't want them to go hungry __________________ Sexy Girls Teasing

09-23-2011, 08:29 AM	#6
Failed Confirmed User Industry Role: Join Date: Mar 2011 Posts: 2,301	They can just do whatever the hell they want and we can't do a damn thing about it except raise prices to reflect the fees. Bitcoin was a nice start, and we need more ideas like this. __________________ (ICQ - 664784872)

09-23-2011, 07:23 AM	#2
BIGTYMER Junior Achiever Industry Role: Join Date: Nov 2004 Location: Walled Garden Posts: 17,066	Greed. They need more competition.

09-23-2011, 08:40 AM	#7
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,151	Believe it or not there was a time when Visa/MC charges were done with a multiple copy paper transaction. A lot of hands on steps were required for processing and payment to the vendor. A vendors "rate" was based on average transaction. Simply put each transaction for a appliance store would be a lower percentage than for a restaurant for example. With each step now being electronic what you are seeing is just another money grab. .

09-23-2011, 09:01 AM	#8
sperbonzo I'd rather be on my boat. Industry Role: Join Date: May 2003 Location: Miami, FL Posts: 9,748	Don't complain. Use and support other payment methods. VISA and MC don't own you, and they can't use force to make you use them. You are free to choose not to do business with them if you wish. They are free to not do business with you if they wish. Everyone has freedom of choice here.... until governments get involved of course. Then force can be used to make everyone comply. . __________________ Michael Sperber / Acella Financial LLC/ Online Payment Processing [email protected] / http://Acellafinancial.com/ ICQ 177961090 / Tel +1 909 NET BILL / Skype msperber