aleksl - 5:17 pm on Jan 20, 2012 (gmt 0)

"Banks don't work for free" :) Look around, go into any downtown, banks and insurance companies own the majority of big buildings. Banks are now foreclosing on millions of properties, so no, they don't work for free but their cut is unfair. Obviously, 2% PER EVERY TRANSACTION IN THE WORLD is way above what it really takes them to pass bytes from one computer to the next.

HRoth: There is no credit card tax. There are fees for processing credit cards. They are a cost of doing business

It is CREDIT CARD TAX, no matter how you look at it. The banks tax every single transaction you process, i.e. AT REVENUE - at 2%. I suggest you re-read a definition of a revenue tax.

The fact that it is NOW cost of doing business doesn't say it should be so in the future. The fact that world economy is collapsing under the burden of BANKER DEBT obviously tells that what bankers charge isn't fair - neither to the merchants, nor to customers.

Clearly a government intervention is in order to fix this, either that or another processor that can charge not a % of revenue but something less.

woop01: People think 2% is pretty good because in this sector, online payments, it is pretty good.

Well, I do not think it is pretty good. I think it is extremely excessive. In our operations, bank fees are on par with shipping charges - in no way, shape of form it is "pretty good".

woop01: Getting upset about it won't be nearly as productive as finding a way to work with it.

Is there a way?