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.
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?
i may know a bit more since i used to work for a bank, i think you’re right on the money
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.