• Visa, Mastercard Agree to Lower Swipe Fees in Settlement

    From JAB@21:1/5 to All on Tue Mar 26 09:01:00 2024
    Visa and Mastercard agree to $30 billion settlement that will lower
    merchant fees

    Two of the world's largest credit card networks, Visa and Mastercard,
    as well as the banks that issue cards with them, agreed to settle a decades-long antitrust case brought upon by merchants.

    The settlement is set to lower swipe fees merchants pay when customers
    make purchases using their Visa or Mastercard by $30 billion over five
    years, according to a press release announcing the settlement Tuesday
    morning.

    https://www.cnn.com/2024/03/26/economy/visa-mastercard-swipe-fee-settlement/index.html

    As more/more customers used Visa/MC, their infrastructure cost did not
    rise in sync with this added demand.

    Analogously, cellphone paradigm, very expensive in earlier days, but
    plan prices dropped/dropped with time as more customers came onboard.

    --- SoupGate-Win32 v1.05
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  • From D@21:1/5 to JAB on Tue Mar 26 14:20:30 2024
    On Tue, 26 Mar 2024 09:01:00 -0500, JAB <here@is.invalid> wrote:
    merchant fees

    "Those who swallow down usury cannot arise except as
    one whom Shaitan has prostrated by (his) touch does
    rise. That is because they say, trading is only like
    usury; and Allah has allowed trading and forbidden
    usury. To whomsoever then the admonition has come
    from his Lord, then he desists, he shall have what
    has already passed, and his affair is in the hands
    of Allah; and whoever returns (to it) -- these arc
    the inmates of the fire; they shall abide in it."
    --Surah Baqarah 2.275 Qur'an (trans. M. H. Shakir)

    --- SoupGate-Win32 v1.05
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  • From D@21:1/5 to JAB on Tue Mar 26 17:35:44 2024
    On Tue, 26 Mar 2024, JAB wrote:

    Visa and Mastercard agree to $30 billion settlement that will lower
    merchant fees

    Two of the world's largest credit card networks, Visa and Mastercard,
    as well as the banks that issue cards with them, agreed to settle a decades-long antitrust case brought upon by merchants.

    The settlement is set to lower swipe fees merchants pay when customers
    make purchases using their Visa or Mastercard by $30 billion over five
    years, according to a press release announcing the settlement Tuesday morning.

    https://www.cnn.com/2024/03/26/economy/visa-mastercard-swipe-fee-settlement/index.html

    As more/more customers used Visa/MC, their infrastructure cost did not
    rise in sync with this added demand.

    Analogously, cellphone paradigm, very expensive in earlier days, but
    plan prices dropped/dropped with time as more customers came onboard.



    Globally or only in the US? It seems to me like American express could
    easily muscle in on their market if they only wanted. But for some reasing their strategy seems to be to only cater to the luxury markets.

    --- SoupGate-Win32 v1.05
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  • From JAB@21:1/5 to noreply@mixmin.net on Tue Mar 26 11:54:44 2024
    On Tue, 26 Mar 2024 14:20:30 +0000, D <noreply@mixmin.net> wrote:

    merchant fees

    "Those who ..............................

    "Those who devour, that is, [those who] seize by way of, usury, which
    is an excess [levied] in transactions of money or foodstuffs either on
    their value or on credit, shall not rise again, from their graves, "
    Jalal - Al-Jalalayn

    Regardless, most merchants charge the same with cash/card, so if
    paying by cash, a person is penalized where merchants charge the same.

    Now, if a person pays by card, and pays off their monthly bill in
    full, that's the same of buying with cash.

    Oh, this begs the question about these 'bad' merchants...they all
    should be cash/carry....Right? Logically speaking, this is fucked up reasoning.....

    --- SoupGate-Win32 v1.05
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  • From JAB@21:1/5 to nospam@example.net on Tue Mar 26 11:58:06 2024
    On Tue, 26 Mar 2024 17:35:44 +0100, D <nospam@example.net> wrote:

    American express

    Here are the best virtual credit cards of 2024

    Best for dining: American Express Gold Card

    https://www.cnbc.com/select/best-virtual-credit-cards/

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From JAB@21:1/5 to nospam@example.net on Tue Mar 26 11:55:33 2024
    On Tue, 26 Mar 2024 17:35:44 +0100, D <nospam@example.net> wrote:

    only in the US?

    Yes....I have no idea what's/what in Europe.

    --- SoupGate-Win32 v1.05
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  • From D@21:1/5 to JAB on Tue Mar 26 18:36:24 2024
    On Tue, 26 Mar 2024 11:58:06 -0500, JAB <here@is.invalid> wrote:
    Best for dining

    "homo quidam erat dives et induebatur purpura
    But was a man certain to be rich, and indued in purple

    et bysso et epulabatur cotidie splendide et
    and byssus, and well feasted each day splendidly. and

    erat quidam mendicus nomine Lazarus qui iacebat ad
    to be a certain mendicant named Lazarus, who laid at

    ianuam eius ulceribus plenus cupiens saturari
    his gate, him having ulcers plenary. concupiscent to be satiated

    de micis quae cadebant de mensa divitis
    from crumbs which fell from the table of the rich man,

    sed et canes veniebant et lingebant ulcera eius
    moreover the canines did come and lick the ulcers of him.

    factum est autem ut moreretur mendicus et
    occurred to be but in order to die the mendicant, and

    portaretur ab angelis in sinum Abrahae mortuus
    to be portative by angels into the bosom of Abraham. died

    est autem et dives et sepultus est in
    to be but also the rich man, and was buried to be. in

    inferno elevans oculos suos cum esset in
    the inferno having elevated the eyes of him, when to be in

    tormentis videbat Abraham a longe et
    torments, he is seeing Abraham from a long way off, and

    Lazarum in sinu eius et ipse clamans
    Lazarus in the bosom of him. and himself having clamored

    dixit pater Abraham miserere mei et
    he is saying Father Abraham, mercy be you having on me, and

    mitte Lazarum ut intinguat
    be you sending Lazarus in order that he may be intincting

    extremum digiti sui in aqua ut
    the extremities of the digits of him in water, in order that

    refrigeret linguam meam quia crucior
    to be refrigerating the lingula of me, because it is excruciating

    in hac flamma et dixit illi Abraham fili recordare
    in this flame. and is saying to him Abraham Son, remember that

    quia recepisti bona in vita tua
    because you were receptive of the good things in the life of you,

    et Lazarus similiter mala nunc autem hic
    and Lazarus similarly of the bad things, now but in this place

    consolatur tu vero cruciaris et in his
    he is consoled, and you are verily excruciated. and in this

    omnibus inter nos et vos chasma magnum firmatum est
    wholly between us and you, a chasm great has been firmly placed,

    ut hii qui volunt hinc transire
    in order that those who are volitional from here to be transiting

    ad vos non possint neque inde huc
    toward to you not they are able, neither from thence to here

    transmeare et ait rogo ergo te
    you are passing over. and he is saying I am asking therefore you,

    pater ut mittas eum in domum
    father, in order that you to be sending him into the domicile

    patris mei habeo enim quinque fratres
    of the father of me. I am having in fact five brothers,

    ut testetur illis ne et ipsi
    in order that he should testify to them, that not also themselves

    veniant in locum hunc tormentorum et
    they are coming into the locality this of torments. and

    ait illi Abraham habent Mosen et prophetas
    he is saying to him Abraham They are having Moses and the prophets,

    audiant illos at ille dixit non pater
    let them be hearing them. but to him he is saying No, father

    Abraham sed si quis ex mortuis ierit ad eos
    Abraham, but if anyone out of the dead did go toward them,

    paenitentiam agent ait autem
    in penitence they will conduct themselves. he is saying but

    illi si Mosen et prophetas non audiunt neque
    to him If Moses and the prophets not they are hearing, neither

    si quis ex mortuis resurrexerit
    if anyone out of the dead should be resurrected

    credent"
    will they be credent.

    --Lucam 16:19-31, editio Vulgata

    --- SoupGate-Win32 v1.05
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  • From D@21:1/5 to JAB on Wed Mar 27 11:11:52 2024
    On Tue, 26 Mar 2024, JAB wrote:

    On Tue, 26 Mar 2024 17:35:44 +0100, D <nospam@example.net> wrote:

    American express

    Here are the best virtual credit cards of 2024

    Best for dining: American Express Gold Card

    https://www.cnbc.com/select/best-virtual-credit-cards/


    I assume they only work for americans and probably they require a smart
    phone as well, which I don't have. Otherwise, I would seriously look into
    that.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From JAB@21:1/5 to nospam@example.net on Wed Mar 27 05:49:09 2024
    On Wed, 27 Mar 2024 11:11:52 +0100, D <nospam@example.net> wrote:

    I assume they only work for americans and probably they require a smart
    phone as well, which I don't have. Otherwise, I would seriously look into >that.

    I know nothing on this topic....

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From JAB@21:1/5 to nospam@example.net on Wed Mar 27 07:53:13 2024
    On Wed, 27 Mar 2024 11:11:52 +0100, D <nospam@example.net> wrote:

    I assume they only work for americans


    What Visa and Mastercard Settlement Means for Cardholders, Rewards,
    Fees



    Picture this: A customer walks into a grocery store just looking to
    buy a carton of milk and a dozen eggs. But when they get to checkout,
    they're suddenly faced with a choice: if they pay with a Chase Freedom Unlimited card it'll be one price. But if they whip out a $550-a-year
    Chase Sapphire Reserve, it could cost them more.

    That's the new reality laid out in a landmark agreement struck between
    Visa Inc. and Mastercard Inc. and millions of US merchants on Tuesday,
    in which the payment giants agreed to a series of changes that
    retailers say will save them at least $30 billion in credit card swipe
    fees in the coming years. The agreement is the culmination of two
    decades of bitter negotiations between the two sides over the fees,
    which have swelled to become a $100 billion-a-year business for the
    two networks and the world's biggest banks.

    https://www.bloomberg.com/news/articles/2024-03-26/visa-mastercard-deal-rattles-consumers-credit-card-rewards-math

    --- SoupGate-Win32 v1.05
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