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I still gag that VISA and Mastercard are like a hidden tax on the economy. In the US we pay 9 times more per transaction than they do in the EU. Credit card fees are around 2.7% in the US, and in the EU they are capped by regulation at 0.3%.
This is a huge amount of money! We need to give up this hidden tax on everyone (people paying cash still pay more to cover these fees to merchants) because it raises prices for everyone! Worse yet, the guy paying cash is still paying for some rich guys vacation to Hawaii, because the merchant has to cover this hidden tax.