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by revelation
3112 days ago
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PayPal fees are high because 1) people pay it and 2) fraud. Credit card "processing fees" however are high because of the stupid rewards programs that Americans are so addicted to because it makes them feel like they are "sticking it to the man" and getting money back, to the point of having dozens of plastic cards in their wallet. Of course with processing fees at >1% of gross value no cashback or airline miles program is ever going to make you come out ahead. In the EU there are no silly rewards games and fixed processing fees of at most 0.3%. |
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