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.
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“Oh sorry we have to restart this entire transaction because you inserted your card before the green light went on” they say, as you look at the 18 people in line behind you and wonder why any working free market would spend more than five minutes tolerating this crap.
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Replying to @matthew_d_green
Are you just trying to give the coinbros stuff to quote? :-)
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Replying to @RichFelker
The payment card people are infinitely worse than the coin people. The payment industry is a festering wound on the fact of society. The coin people are like a wart.
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Replying to @matthew_d_green
I'm not convinced. For the most part, as both consumers and merchants, we could all just keep paying visa/mc 2%, dealing with minor inconvenience, and nothing awful could happen.
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Replying to @RichFelker @matthew_d_green
Well, % doesn't count the rent for the payment terminal, and cards don't allow for micro transactions, the % are only for transaction > $10... When you are dealing with lower amounts, you have to deal with a fixed price commission...
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Replying to @ypasc @matthew_d_green
If you're paying to rent a terminal you're just getting scammed my a middleman - which does happen. I worked with a local business that was making monthly payments on a "$5000" terminal for years. Same device sold for under $200.
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Yes the "2%" is assuming reasonably large payments and precludes micropayment business models. Whether that's a good or bad thing, I'm not sure. Extremely low (and no per-attempt) cost of VoIP just led to massive usage by scammers, no legitimate personal or business benefits.
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