alt Hacker NewsIt’s not even that complex.
The chargeback rates might just be higher than the payment processors feel like dealing with.
I’m more than fine with more transactions leaving the traditional credit card system.
Giving Visa a 3% surcharge on the entire economy never felt right
Replies
Pay08 • today at 3:58 PM
The idea is that chargeback rates are that high because of people getting caught by their spouses.
Visa and Mastercard operate electronic payment networks for debit transactions, which are almost free, and would also be banned by this.
Leaving the only other electronic payment methods as ACH (which is not ideal for most businesses), Paypal, and I don’t know what else.