The merchant fee sucks for poor people because businesses likely raise margins to cover it (if they see significant volume via credit cards, like grocery stores).
Every transaction I make nets me 2-5% 'cashback'. Great for me since I get 5% back even on things like my electric bill and Internet.
But for everyone else paying cash at places where credit is primarily received, they're basically being fined for my benefit.
Every transaction I make nets me 2-5% 'cashback'. Great for me since I get 5% back even on things like my electric bill and Internet.
But for everyone else paying cash at places where credit is primarily received, they're basically being fined for my benefit.