Visa and Mastercard decided to increase their Fees.And there is nothing y can do

[eternalgloom]

I'd say this is pretty great news, this gives merchants and customers even more incentive to switch over to cryptocurrency payments.
Businesses should really put this into the spotlight by giving discounts for payments with cryptocurrency.

They save on transaction fees and customers benefit from being able to buy at a discount. Win Win.

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[r1s2g3]

As you can see the wall street journal (WSJ) said.

Up to 2.5 percent of prices for goods and services go to cover card fees

If 2.5% percent of  goods prices go to cover the card fees then why these companies do not give discount on cash payment. Bitcoin can be good option as a payment but only problem I see which user in the store (or not in the store) will be entrusted with the private key by these corporations?

[pawanjain]

This is quite obvious and expected from a centralized organization. Although they give a justification of the thing they do, they eventually do what they want.
There will definitely be a reason for an increase in the transaction fees because if they increase the transaction fee without any reason then the public would decrease the usage of their cards.
Centralized organizations basically rule the world with their dominance while decentralized platforms are still lacking support.
Don't know when things will turn and the world will change.

[Jet Cash]

Has anyone suggested that this is a move towards the collapsing of the current debt economies. If you are in debt to the credit card companies, you are forced to maintain your relationship with them. They know that as the debt economy collapses, they will have to start seizing assets ( including houses ), and they are going to have to cover the extra costs. It will be interesting to see how they manage to include credit in the new fake crypto services they will be introducing.

[bitbunnny]

Has anyone suggested that this is a move towards the collapsing of the current debt economies. If you are in debt to the credit card companies, you are forced to maintain your relationship with them. They know that as the debt economy collapses, they will have to start seizing assets ( including houses ), and they are going to have to cover the extra costs. It will be interesting to see how they manage to include credit in the new fake crypto services they will be introducing.

And to my knowledge there is quite a number of people who have substantial debt on credit cards, at least in my countries. For many credit card limits looked more afordable to some people than the classic bank loans but they didn't realise it's actually a trap. Once your in, it's very hard to get out and credit card providers will make huge profit on them, this way or another.
As far as services related to cryptocurrencies are involved, I think that Visa and Mastercard should spread they offers in order to maintain and spread the business.

[Kimi80]

I'm afraid that they won't allow for something to change in current currency system. As you said those organizations are powerful. Have enough power to prevent that kind of event. To big stake is in the game.

[crzy]

I'm afraid that they won't allow for something to change in current currency system. As you said those organizations are powerful. Have enough power to prevent that kind of event. To big stake is in the game.

They monopolize this kind of service since they are big enough to control the prices, its hard if they will prevent the mass adoption about cryptocurrency. Now, we have more reason to fight for the legalization of cryptocurrency so we can enjoy good system in the future.

[figmentofmyass]

I'd say this is pretty great news, this gives merchants and customers even more incentive to switch over to cryptocurrency payments.
Businesses should really put this into the spotlight by giving discounts for payments with cryptocurrency.

They save on transaction fees and customers benefit from being able to buy at a discount. Win Win.

the problem is that merchants don't want to lose money to currency risk. bitcoin could crash at any time. so they turn to payment processors, but a company like bitpay charges only slightly less than visa does! offering a discount on top of that doesn't sound attractive for merchants.

if the bitcoin economy were self-sustaining and merchants could pay their suppliers in bitcoin, this wouldn't be as much of a problem. but right now, merchants need a fast POS solution where they can quickly dump bitcoin for fiat. that doesn't come free.