[saurik]

As both a consumer and a merchant I really like this world where even small transactions are insured as it means that everyone--including me--can just mostly trust everyone and not have to have some complex passcode or multi-factor security setup to access and spend money. I like that I just have a card in my wallet that I can nigh unto flash at people and be handed a hotdog, and yet if someone steals my wallet or tries to hold me at gunpoint there is never any reason to not just hand them my card.

[aianus]

You like it because the costs are hidden from you. I bet you'd think twice about using your card to pay for your hotdog (or even something like a MacBook) if they explicitly passed the fees onto you and you could opt out with cash.

There's room for both systems for different kinds of transactions with different kinds of merchants.

[diogenescynic]

As a merchant, they would pay those fees--so no, the costs are not hidden for them. Did you miss that part?