Taking card payments

antijoke · 12 Mar 2018 at 09:33

I am not a shop.

asim18 · 12 Mar 2018 at 13:49

Dangerous Dave said:
It is not as simple as saying a company should stop taking cards/electronic payments many customers only want to pay with this method, could you imagine buying anything online without card payments. Paypal are generally more expensive than other acquirers for transaction fees. Businesses also have cash handling fees to take into account and offset against card fees.

Yeah this is why we should have established a proper and fair method of keeping an electronic ledger, before we decided to start letting dodgy banks and financial institutions take a fixed cut of the entire world's economy.

I mean American Express for example, 109,000,000 cards in force, each with an average annual spending of $17,216. (source)

So if you take a very conservative figure of 1% cut and apply it to those figures, you get:

$1,876,544,000,000

That's 1.8 TRILLION dollars cut from the world economy, EVERY YEAR, for ONLY AMEX.

1.8 TRILLION is getting wiped off the face of the earth, every year, just to maintain an electronic ledger, and give *some* customers free cash giveaways. It beggars belief.

How can I get my hands on some of this "free cash" I've been funding for the past decades? Seems like a another dodgy pyramid scheme to me, no doubt the people higher up get more free cash cards than the slaves.

$18,765,440,000

18 billion every year sorry, in my excitement I forgot to apply 1%.

D.P. · 12 Mar 2018 at 14:39

asim18 said:
Yeah this is why we should have established a proper and fair method of keeping an electronic ledger, before we decided to start letting dodgy banks and financial institutions take a fixed cut of the entire world's economy.

I mean American Express for example, 109,000,000 cards in force, each with an average annual spending of $17,216. (source)

So if you take a very conservative figure of 1% cut and apply it to those figures, you get:

$1,876,544,000,000

That's 1.8 TRILLION dollars cut from the world economy, EVERY YEAR, for ONLY AMEX.

1.8 TRILLION is getting wiped off the face of the earth, every year, just to maintain an electronic ledger, and give *some* customers free cash giveaways. It beggars belief.

How can I get my hands on some of this "free cash" I've been funding for the past decades? Seems like a another dodgy pyramid scheme to me, no doubt the people higher up get more free cash cards than the slaves.

$18,765,440,000

18 billion every year sorry, in my excitement I forgot to apply 1%.

You are forgetting the actual costs. The entire market cap of Amex is $18bn, sot hey certainly aren't turnover of 18bn regularly each year.

If you want to be rewarded for Amex's work then buy shares, then you too can enjoy the benefits of electronic ledgers.

Pyr0m@nI@]{ · 12 Mar 2018 at 14:55

Place I work at has stopped taking credit card payments

Deleted member 77746 · 21 Mar 2018 at 21:16

Be very careful and please don’t rush into it. I used to work at a company that issued card machines. I installed them with cash tills and sometimes customers would just sign for them without reading or understanding any info and they ended up in a lot of debt just because of the card machines. Really scary to see how easy things where to spiral out of control.