alt Hacker NewsWhere do you think the vendor gets the 3% to pay the network?
If I bake cakes to sell them, and have to pay 3% to a network for each purchase, then that 3% is in the price of the cakes.
Replies
scoot • yesterday at 6:18 PM
I can't reply to DaSHacka, but just to point outat least in this country, merchants have to pay to deposit cash. Not to mention the additional cost on their side of handling it, higher insurance cost, etc. etc. Cash isn't free of transaction fees/
That's if they pass on the cost to the consumer. Some businesses charge the same amount whether paying cash or card, meaning paying with a card is ""free"", or at least not "penalized" over cash.