Reply to Credit Card Fees passed through from merchant

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]And this is why many countries are moving away from credit cards. In China, they pay by QR code (Alipay and WePay). In India, they use UPI. Both are app-based methods of payment that tie to an underlying bank account but also have their own wallet so you don't actually need a bank account. But they also go around the credit card system entirely.[/quote]

This. I study the credit industry as part of my job. Visa, MC and Amex are not the industry standard anymore and are experiencing difficulties expanding into new international markets bc of the ease, simplicity and low cost of these other payment alternatives. The US is very far behind. [/quote]

Do these international solutions charge a transaction fee? How do they make money?
The idea of me paying a percentage of my entire cost (whether it's something intangible like 3% of a $200 cable bill, or tangible like 3% of a $200 grocery bill) is just insane. I'm okay with no cash back too. I just want the utility of the credit card and not to be charge a percentage of the cost. There's no incentive for me to spend more.

It's like the antiquated shipping mentality- shipping costs went up as you spent more. That didn't last long. [/quote]

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