Nov
11
2021
Rewards credit cards frequently cost merchants more money to accept than plain vanilla credit cards without rewards. Merchants want to accept credit cards – it’s good for their business – but they’d love to pay less for the service. Many associations of retailers turn to governments or the courts to try to force lower fees from Visa, Mastercard, and American Express.
One of the arguments employed by merchants, to disguise self-interested behavior, is ‘concern for the pooor’ claiming that the rich benefit from rewards while the poor face higher prices as a result.
