Why Using Your Credit Card Is Getting More Expensive

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Information Why Using Your Credit Card Is Getting More Expensive | WSJ

Title	:	Why Using Your Credit Card Is Getting More Expensive \| WSJ
Lasting	:	5.36
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I rather not shop at those places because I know they already have the fees baked into their prices and they will never lower their prices even if they don’t pay credit card fees
Comment from : Blank _

In indonesia credit card usage is relatively low merchants usually add the credit card fee of 1-3 to customers who use it But the central bank now promotes the standardized QR payment called QRIS which is interchangeable with Thailand, Singapore, Malaysia and Philippines's QR QRIS merchant discount rate (MDR) is highly regulated and varies between 0-07 depending on the capital size and business field of the merchants Of course the banks usually gives no reward due this low MDR, but i think in general this system brings more benefit to everyone Many merchants are now bankable, and if i go to Thailand i can buy many things without having to go to money changer or applying for credit/debit card first just bring my smartphone
Comment from : Bangkit Dan Percaya Investama

If you are watching this video, google about "Pix" in brazil payment system created by the central bank This is system in owned by central bank and has zero fees to consumidor and commercies, it's like a virtual Money
Comment from : Carlos Braz

What it means is the banker cartel want a piece of the action each time you make a transaction brThat will be punished immediately like never before
Comment from : Zeek M

Square got this one right!
Comment from : mihaela elena chişcovici

The CC company will try to addict you to use the card because your collecting points for stuff - meanwhile the place you used your card end up paying for your free stuff Starve the CC company use CASH
Comment from : Ivo Biancucci

In other words, your awards are coming with higher prices
Comment from : Mitchell Quartero

Yes, the credit card shopper gets the reward Cash shoppers like us get the peace of mind that comes with not messing with a financial product that can swiftly trap you in debt quicker than you could say the word 'reward'
Comment from : X

Mmm… chicken parm
Comment from : Dana Dominguez

When central banks' digital currencies become widespread, there will be no more commissions
Comment from : Eric Navarro Mattick

Reward programs are a systematic wealth transfer from cash-users to users of credit cards with reward programs You can guess which group is generally more wealthy Cash-users subsidize reward programs that have a higher interchange fee, resulting in higher prices across the board So if you pay in cash, you’re paying for the reward programs through higher cost of goods
Comment from : Dirk McGurk

Indian,UPI Unified Payment Interface is a simple free realtime transaction system bestone
Comment from : We Lead

I have worked for a Merchant ISO downstream from Fiserv for a few years, and this is a BIG deal Small business paying 3 in CC fees might not sound like a lot, but at a 20 profit margin the fees equal 15 of total profits! The gov’t has an incentive to fix this too… paying/preferring cash means some businesses can shave sales tax and even income tax receipts, whereas it’s not worth the risk and there’s not point in pushing cash if electronic payment fees charge 50 basis points I guess we’ll see what happens
Comment from : Joe

They charge more for debit card tho and I certainly am not getting rewards form that
Comment from : WeiYinChan

Charging me to use my credit card to pay you means that I will never be a repeat customer for you I hope that 3 makes up for the destruction of your customer loyalty
Comment from : MrPink_art

If a restaurant charges me a fee for using my card, that will come out of the tip If confronted about the decreased tip, I'll kindly remind them their employer stole it via the fee
Comment from : Troy Davenport

Business can take the chance and only take cash But thats dangerous also
Comment from : lothean

the thing is…businesses can add up on cost of product if you use a cardand more fees when you use apple pay
Comment from : Илья Ярош

Is this why I always feel like my transaction total is always more on my credit card than had I just used my debit card for the same purchases??
Comment from : Style_ bychrissy

The store lady was very nice !
Comment from : Aditya Patil

I’m surprised that even small developing countries like Cambodia has centralized banking platform, Bakong that do not charge retailer and merchant any fee while US retailer still has to pay the fee
Comment from : Boromey Sreang

Credit card users spend much more than cash buyers The government needs to keep its nose out of businesses
Comment from : A LeBlanc

bitcoin literally fixes this
Comment from : Basi

They don't want social health but they dont mind paying extra for "social rewards"
Comment from : Tycho

Don't worry Soon we'll all use cbdc
Comment from : Walt Lonsdale

My card had 5 cashback on all purchases for years My bad 😆
Comment from : noblelies

Aren’t bank fees a different kind of taxable event when businesses file their taxes…
Comment from : Jared Mease

No business should be allowed to add the additional processing fees
Comment from : Asif Ahmed

I remember when I used to use my debit card for every transaction! That is when Chase Bank had a very lovely point system I can not tell you how many AMC, Sephora & Starbuck giftcards I racked up! I no longer carry my debit card, yet I do love PayPal, Apple/ Samsung & Google pay! 🤷🏽‍♀️
Comment from : Dawn Woody-Poitra

Хе хе, а в России если товар стоит 100 рублей, то и картой я оплачиваю именно 100 рублей, и это всегда и везде так
Comment from : Яго

No thank you Keep them as is
Comment from : Hank O

Not my problem I'll continue to use my credit card
Comment from : SweetTooth

It is the cost of doing business after all
Comment from : Josh Cucksey

Ripe for disruption Blockchain for the win
Comment from : Roderick McKinley

Most of the locally owned restaurants in my area now have two prices on their bills - a cash price and a card price Usually a 3 difference I own a construction business and all of my vendors charge more for cards than cash or check A few years ago all these vendors promoted cards Now they push checks for large purchases
Comment from : Private Obvious

Im always using cash! In some cases only a debit creditcard
Comment from : Devil Angel

While watching this I can’t help but to see how some crypto exchanges can solve this problembrbrThe other network they might look at is Crypto, since it is already setup and the coins are directly link to your funds
Comment from : Emil Martinez

Indians laughing with UPI:
Comment from : Venkat

that is why i only use cash!
Comment from : ຜາຍ ໄຊ

And India have instant payment system for free no charges 🤣
Comment from : Amresh Chaurasiya

This whole thing seems like banks and network just trying to hide the fee away from consumers Businesses will simply price in the fee I'd rather they just come out and show it
Comment from : Hiếu Nguyễn

I find it very weird card networks have to raise fees to "keep up with rising costs" Since they're a percentage on the transaction, if inflation goes up and thereby prices go up, their absolute amount increases as wellbrSo this is just a cash grab, as their income would be going up even without increasing fees
Comment from : TGX03

I'm a merchant and I can tell you those numbers are wayyyy higher It's probably closer to $030 + 3-6 in fees depending on the card and country of the customer Plus you aren't taking account of the other side of the whole experience Do that again when the merchant makes a purchase for just about anything There is a reason people like Bitcoin even if it has high fees by comparison to other cryptocurrencies It'll probably cost me $030 in total, but for a higher valued transaction it's WAYY cheaper I pay $70 in fees for credit card transactions when I sell a computer which can exceed the profit margins on the sale! The bank literally makes more from my business than I do brbrAnd dirty fiat (dollars) aren't all they're cracked up to be either With inflation if you hold dollars (physical bills or in your bank account) you lose another 8-16 (depending on who you believe, aka the government or other indicators based on older models that didn't try to hide the inflation) each year because the governments printed/printing lots and lots of money
Comment from : Mr J

This is simple, the only legislation we need is one that stops the card companies from retaliating against businesses It's that simple
Comment from : RipleySawzen

It was incredibly dishonest to say "rising prices are passed to us" while showing gas prices
Comment from : Mikal Mandichak

Always pay cash
Comment from : Rian Pelger

Costs are going up because the Federal Reserve is printing more money and increasing world debt levels This is known as inflation
Comment from : K B

Btc ⚡ fixes this
Comment from : Cam

Mrs I Work For Hard Working Americans But Sponsored by Visa Pelosi is going to make sure this bill never happens
Comment from : DE Sarcarean

U guys should start UPI transactions ASAP!! 😅
Comment from : yaffique Mohammed

lol
Comment from : Yufeng yan

Because the Yews
Comment from : ☦ Kelly Shea

Cash customers pay the same price, you'd be stupid to pay with cash when you can get back 1-5 w/ credit card
Comment from : hyphydan

Avoid the tip questionnaire and pay cash 🤑
Comment from : Angel Nungaray

I was curious about this but the video felt really US-centric 🥲
Comment from : Lorenzo Lillo Aragonés

India's approach to homegrown payment system with mobile first approach is fantastic
Comment from : Abhinav Kumar

b*Laughs in GPay*/b
Comment from : Russell Fernandez

Adapt rupay or UPI
Comment from : Harsh agarwal

Implant and use UPI
Comment from : Aakash Yadav

Most people has no clue what CCs cost them in the goods and services they use, in inflating the prices The worst are those insists in using cash thinking they are smarter What this very good video should include is the cost to the merchants when consumers use debit card I know they can't escape the swipe fee which is not much, but I'd like to know the exchange transmission fee
Comment from : V Sohn

But there's something most people ignore: accepting cash also costs money Sort of Except for small businesses, accepting cash does cost, not as a fee, but as the cost of having a secure logistics service (don't know how this is exactly called in the US), which will take the monry into a truck, to the bank, securely, without the risk of a single person making the movement alone That also costa The (probably) only difference is the cost here is not usually a of the sales, but (roughly) based on the number of bills and coins
Comment from : Alvaro Aguayo

Cash is king 👑
Comment from : Masao D Kakihara

In my country, the store makes it clear, if you pay by card you gotta pay the surcharge, so nobody pays
Comment from : Ravarsen

"Credit cards FORCE consumers to BORROW due to hyperinflation at the expense of the taxpayer" Fixed it for you
Comment from : TACTKNIGHT GAMING

Is this some kind of American joke? I am too European (or German) to understand?brI use either cash, or my debit card, and debit cards have no transaction fees
Comment from : emretheripper

In India there’s allocated budget to provide 0 MDR transactions, they don’t use physical cards but scans qr codes Not depended on visa or Mastercard networks
Comment from : NM

Yeah but the issue is the fees will be reduced but the merchants will continue charging us more I like my cash back rewards Not my problem that people aren't smart enough to pay on credit for cash back and pay off their bill in full monthly
Comment from : Nicks Randomness

Simple solution use upi
Comment from : Suman Dey

I try to use cash a lot more often now after I became aware of the fees Plus it settles instantly for the merchant, they don't have to wait 3 days w/ cash I can also forget to pay off the credit card and get hit with interest The convenience factor of credit is not free! Plus cash uses your brain! Count it!brbrCash is king
Comment from : HookUpHero

You need a fee cap as it was installed in the EU years ago Rewards will vanish, though
Comment from : nami

Oh man I don't want to carry cash
Comment from : milce arry

Just use debit card
Comment from : natsu dragneel

Use UPI from India voila you don’t have to change law
Comment from : Venkatesh Ravi

Evil company no 1 Visa
Comment from : Sivakrishna T

Cash means you don't have to pay TAX👍
Comment from : Daniel

The " E - Wallete " era had arrived long ago people 😎
Comment from : 彌履馥人

Using credit cards is not more expensive, unless there is a special credit card user fee, or users not using them get a discount If businesses started giving cash purchases a 3 discount, it would a lot of problems
Comment from : Garden Fundamentals

Maybe we can use XRP,Stellar or IOTa for transactions instead? They have much cheaper transaction fees
Comment from : Filemon

“Neither a borrower nor a lender be” - William Shakespeare
Comment from : Gibson Rickenbacker

Use Unified Payment Interface
Comment from : Manan Agarwal

How to talk about obvious everyday things that everyone knows like it’s an exposé on some hidden system
Comment from : Arkrilok

Use UPI already :D
Comment from : AjayIndian

Use a debit card instead cash back is the problem that makes the fees so high
Comment from : Peter Buvik

Is this WSJ starting coverage on digital transactions to pave the way on highlighting and promoting the fed’s CBDC? brbrThey gave no care in the world when some businesses were shut down for almost two years But now 34 USD is a topic of discussionbrbrCall me crazy
Comment from : Sargon Zaya

Rupay cards rocks
Comment from : Saurav Agrawal

Indian UPI is best no extra charges and also gets rewards 😁 india 🇮🇳 is best
Comment from : Jaivek kanabar

Crypto sounds like the solution
Comment from : Cisco M

If only there was a direct payment system peer to peer that was final settlement instantly for near free Oh wait there is and it’s not visa or Mastercard network It’s the lightning network built on the strongest most robust digital monetary network Best part is nobody can stop you from using it, it’s digital cash #onlybitcoin
Comment from : Nunya Buisness

Ditch cards Ask your central bank to implement something like UPI
Comment from : Subodh Mandya

Small business should cash all time
Comment from : Horace Wong

Ff
Comment from : fatehyabali

Learn from India how to get out of thisbrRupia is taking over visa Mastercard and amex
Comment from : sk hyd

problem is debit cards if something goes wrong you can't refute the charges or it's that much harder to do sobrcredit cards there's an extra layer and if something does go wrong and the retailer refuses to do anything about it you can charge back through the bank to nullify it
Comment from : Joe Swanson

Many large retail businesses to consumers restrict cash only transactions yet they still want lower fees without giving a discount to customers using either cash or the lower fee debit/credit system I don't have much sympathy for most businesses, because regardless of their payments to other financing businesses, those complaining have no incentive to lower any prices to the end-user customers
Comment from : fturla ___