VISA, in 1977, came to us with a pitch to dissolve our in-house accounts (which they tried to prove cost us 7% of CREDIT sales) in favor of giving them 4% on every transaction of credit sale.
Sounds good, but it was strictly for those that charged (which, at the time, was a small percentage of transactions). The balance of sales, not charged, were 100% ours.
Now, VISA has made the "imagine the possiblities" and everyone, everywhere, flashes plastic. Additionally, advertisements discourage use of greenbacks in favor of credit cards.
The result? Lower VISA cuts on the sale (now about 1.5%-2.0%) but nearly ALL sales are credit card. VISA also discourages you from writing a check because THEY will settle disputes & give you (in some cases) some sort of warranty.
If you would imagine that ALL sales in the USA were credit and that VISA & gang gets 2% off the top... stealing from the company who generated the sale... then it becomes immediately apparent that the seller does all the work & VISA gets paid for running a stupid server while their employees watch the screens "making them money" everytime an American goes shopping.
Makes me sick. If we could just discourage giving 2% to VISA & let the businessman keep what he well deserved & earned, we could change the face of this county. Two percent on TRILLIONS is not something to ignore.
But then again, that would be a re-distribution of wealth from the loan shark back to the businessman, no?
