[lug] Credit - was: [Letting folks pay from the web.]

[Nate Duehr]

On 2/3/2010 10:11 AM, George Sexton wrote:
> If you do a little research on-line, you'll find that for many businesses
> their merchant fees exceed their net profit. It's getting a little
> ridiculous. What we have here is really a market failure. There is no
> effective competition.
>    

If you and other small businesses don't stop accepting credit cards when 
you hit a point that you're losing money on them - what's the market's 
motivation to change?  Why would they compete for business that's not 
walking out the door?

If you want to see the free market system work, you have to buy into the 
concept that failure HAS to happen, or the changes will never happen, right?

Nate