The people at Ingenico who decided you can’t insert your chip-card until the green light goes on will be the first against the wall when the revolution comes.
2% really doesn't matter to either merchants or consumers in any absolute sense. It only matters if there's a competing alternative that lacks the fee and your business model is built on such small margins.
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Matters a lot to low-income people who are paying cash and still eating a 2% (or 3% really) tax to subsidize a payment card industry they don’t benefit from.
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Matters a lot to small businesses that get clobbered with fraud and chargebacks.
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I've always thought the US government should establish its own electronic payment system.
End of conversation
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This is only true if your gain is very big. 2% from volume of sales is 50% of your income when margin after cost&tax is 4%. And there are many of such low margin businesses, because there are a very lot of bloodsuckers between origin and consumer.
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If that were true, there would be no minimum spend on card payments, or fees charged of you want to pay by card. Smaller payments in small businesses get extremely expensive for business owners.
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