The European Central Bank's €1.3 billion bet offers an alternative to the U.S. payments giants, but it faces an uphill battle to win over consumers, merchants, and banks.
47% only? I thought it was much worse. But yeah if I go to my local grocery store that is 300 meters from where I live, and anything I buy we send 1-2% of the value to a company that is thousands of miles away, it makes no sense. Surely there should be a better way
I do not claim to know the big/whole picture of their business model, but to minimize your contribution to their profit I think you could pay with cash.
If these are small operations, they really appreciate you paying cash, as they will keep more. If you do that consistently and build a good rapport they will genuinely become friendly with you, which can have unexpected benefits that are not very tangible.
Well maybe the transactions themselves aren’t ripped through USA, but since the introduction of SWIFT they get a copy of every single transaction even if you use a national debit/credit card. I’ve honestly no idea why that makes any sense.
47% only? I thought it was much worse. But yeah if I go to my local grocery store that is 300 meters from where I live, and anything I buy we send 1-2% of the value to a company that is thousands of miles away, it makes no sense. Surely there should be a better way
I do not claim to know the big/whole picture of their business model, but to minimize your contribution to their profit I think you could pay with cash.
If you pay with cash, how do you get your kickback?
If these are small operations, they really appreciate you paying cash, as they will keep more. If you do that consistently and build a good rapport they will genuinely become friendly with you, which can have unexpected benefits that are not very tangible.
i may know a bit more since i used to work for a bank, i think you’re right on the money
I wonder what the global reach is for those two companies, much of the online world appears to ultimately be powered by them.
We need alternatives for everyone.
Well maybe the transactions themselves aren’t ripped through USA, but since the introduction of SWIFT they get a copy of every single transaction even if you use a national debit/credit card. I’ve honestly no idea why that makes any sense.