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Metropolitan DC Local Politics
Reply to "DC ban on cashless business"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't know about DC, but a lot of vendors at Farmers' Markets in the suburbs have signs that say "Credit Cards Accepted; Cash Preferred." Visa charges a 3% fee on all transactions. [/quote] It’s insane that no one has moved in with an electronic payment system that really undercuts swipe fees. Probably more of a regulatory barrier than technical one. [/quote] The Federal Reserve has created a payments service called FedNow that allows for electronic transfers between banks. However, it refuses to roll it out as a consumer facing app/service, even though it could. This could have a huge impact on fees for debit card transactions, however not for credit transactions.[/quote]
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