Are Credit Cards About To Be Dethroned?
Written by Evan SchumanApril 24th, 2007
Although retailers have loudly complained about credit card fees for years, 2007 is suddenly seeing a surge in active support for alternative payments. The credit card companies aren't worried, but perhaps they should be.
Just in the last couple of weeks, the number of major E-Commerce sites accepting alternative payments has almost tripled, Wal-Mart has bucked the industry trend to support e-checks and two major national retail chains are going to try accepting alternative payments at their brick-and-mortars. Three strikes and you're out.
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2 Comments | Read Are Credit Cards About To Be Dethroned?
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-Christine
April 25th, 2007 at 6:54 pm
You’re right, there’s a LOT of movement going on. Those merchant complaints might be ubiquitous, but they are proving to be meritorious — after all, there is a real opening for competitors in card payments. That interchange fee has been a big moneymaker for Visa and Mastercard, but it looks like it could be their undoing. I work with a group working on the issue. Click on my link to check out our site — lots of good info there. If you want to know more about those complaints, you’ll find plenty of answers there.
June 7th, 2007 at 7:46 am
this is the best thing to happen with computer age it would be nice to order something and then pay for it without those high rates it really should be against the law they seem to do what ever they want i say habg in there and kep going going going please please thank you claudette o by the way the one that started this should be named best citizen of many years