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Non-Tech : Bank of America

BAC 55.88

+1.1%

Dec 22 4:00 PM EST

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To: deeno who wrote (3682)	7/16/2012 11:31:11 AM
From: Sr K	Read Replies (1) of 4366

Technology, Moore's law, etc. should mean it costs less and less to process cc transactions. But the Mastercard and VISA duopoly harp on the anti-fraud measures they (and their partner banks) have built into the system. If we didn't have Discover Card and other forms of competition, and the antitrust lawsuits, the top two would have ripped us off for a long time. Congress took some good steps to lower the debit card (processing) fees, but there's still no reason for the fees to be as high as they are. So I like MA and V. For now. With a discount for cash, or a charge for using a card, either direction is good. Everyone pays because it is built into the pricing. I want a choice to have a cash price that cuts out the anti-fraud or duopoly markup. I want a discount of the swipe fee, so about 2%. Not just 22 cents.

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