Boycott US
Overview:
The community dedicated to boycotting the US until they stop fascism, restore full democracy and start following international law.
Americans have a moral obligation to resist Donald Trump and project 2025 at every turn.
America is a flawed democracy currently being ruled by oligarchs. Stop the backslide! Dont let America become the next Hungary.
America needs to challenge the court rulings of citizens united v. fec and shelby county v. holder, protect the media, implement independent district drawing, and the single transferable vote so they don't end up having people stay home in life-changing elections because they cannot vote for their favourite candidate.
Join 50501.chat to fight back!
Related communities:
Boycott:
!buycanadian@lemmy.ca
Activism:
!antitrumpalliance@lemmy.world
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The problem with answering this question is that on the consumer side you don't really make this choice. The businesses that you pay for things at make this choice.
Visa and Mastercard are payment networks. The businesses that accept them are renting access to those payment networks, because ultimately accepting those forms of payment helps them make more money.
There are other options for payment systems, but for you to use them requires that the business you want to buy something at accepts those options.
Ya
Highest profit margin in the whole S&P 500? Visa/MC duopoly, like 70%!
Long read
Meanwhile Brazil has a 0% solution. Real card fees shouldn’t be 3%, should be IDK like 0.1% or something
I'm not aware of how payments work in Brazil, but in Denmark we've had a debit card that everyone uses and every store accepts. It's completely free for consumers, and stores pay way less for Dankort transactions than for credit cards, so it's a win-win.
The fees are insane to me. I do think it's fine for there to be some fee, they do provide an infrastructure and keep it up to date, but current fees are just insane for what they're providing.
Some businesses offer more options though, and when they do you can choose to use those options.
Er, yes, that's my point? It's up to the business to make that choice.
My point is, hardly anyone goes out of their way to use other payment options, and that's one reason why most businesses don't bother with them, so this is also a choice of the consumer. Of course there's also little incentive for the consumer not to bother, but that's kind of just the deal with catch 22 network effects, someone has to take the leap to using something else.
Here in the U.S. at CVS pharmacy, I've seen Venmo option on their self check outs.
lol...like the business has a choice?
Before COVID it was almost 50/50 cash/credit and now we're at 25/75 cash/credit because people learned to use their card more than before (Spain).
Banks make the choice, you use what the bank gives you in business, or you have no business.
In a practical sense it's true that most businesses can't afford to not accept Visa & MasterCard.
This is not a choice made by banks. The credit payment networks are not banks and are not owned and operated by banks.
A business does have the choice to accept other forms of payment besides Visa & MasterCard, which is the point I was making. If you want to use a different method to pay for something, the business has to accept that form of payment.
Correct, they are not owned (mostly) by banks, but the fees go to the bank and cc company for processing, so it's relatively the same. Also noted that when you open an account you don't have a choice of what company your debit/cc issued by the bank is. In the US & SA it was exclusively VISA (I've had one at one time or another since early 90s....fuck I'm old) and in the EU it's Mastercard...I haven't seen any other type issued....id love to see that change.
I will also add some banks are just CC companies in the US- the junk mail kind that offer zero rates, etc.