Business: The Card Game: Visa Reigns With Silent Tax

[isisqueenafrika]

I do not trust banks.

[DickSkidmore]

Im old and never was STUPID enough to get a piece of plastic that is nothing more than an instant loan. I don't use banks either. Only Credit Unions. Same as a Bank but no Bank scamola because they operate at no profit.

[blummedia]

This is why I told my bank to stick the debit card where the sun don't shine when they switched to Visa debit bank cards instead of the in house ATM card. Visa skims a good chunk off of welfare debit cards and you can thank your politicians for that scam. Then TARP bailed out Banks are using those funds to lobby and donate to the very politicians that voted for TARP.

Wake up America!

[minion6500]

sucks how its human nature to be greedy.....yet is not a creditable excuse for our development. i think there should be a cap on transaction fees....2.5bill profit....COME ON!

[EmperorEmpanada]

New York Times is liberal trash.

1 star.

[jdquarg]

@EmperorEmpanada

You did or did not find value in the video article "Business: The Card Game: Visa Reigns With Silent Tax"

What part of this video had "liberal bias"?

Thanks

[EmperorEmpanada]

At 00:9 when a symbol which represents idiotic liberal elitism appears in the bottom right corner and is arrogantly displayed throughout the duration of the video.

[jdquarg]

You don't have any problem with the news article, content, presentation, or news worthiness?

Your upset because there is a trademark logo on the lower right hand corner of the video?

Since the video may get passed around from video sites people who view this will know its from the NYT's. How does this offend you?

[Shreds1620]

If you don't side with the Jew York Times, simply don't click on it's affiliated links

Einstein...problem solved..

Oh and this video must obviously contain some value to you -as you chose to watch it in it's entirety -logo and all ..

so please do the rational monkeys all a favor and go chop off your thumbs fuckbag.

thank you drive thru

[Timerider]

If you really want to be horrified check out PCI DSS

With this new program the banks are shifting the liability for loss on to the merchants. Not to mention if you don't comply with the program they institute huge fee's and what they call "fines" (I did not know Visa and Discover were now Law Enforcement!). Yep the bankers rule the world.

Though interestingly the damage they attempted to cause over the last two years with currency manipulation was kept to a minimum by card use..

[vfitz]

If stores were able to give a discount for paying in cash, it would illustrate to the buyer how much the transaction fee costs the merchant. Some card agreements don't allow this. Maybe that should change.

[MacPr0xnxx0]

good lord we rely on plastic too much

[19boogiedownbronx82]

the thing that jumped out to me was the 2.5B PROFIT!!!! just for transaction fees I use my cards as little as possible because i dont want to support this obvious grotesquely parasitic behavior that large corporations (not just banks) get away with LEGALLY. Insane interest rates, and unjustified fees, then tax-exempt on top of all that !  Dont we need better accountability for large corporations?If we dont sortta makes our free market system moot if no control over the Banklords and such.

[markvergeer]

In the Netherlands most cards are debit cards, the 'credit card' as the US knows it is less common. Of course there are true credit cards like most customers in the US have but the fees and the interest you have to pay just don't make it sensible to use them.

[wafflepistol]

It isn't even sensible to use them in the U.S. But you need credit to purchase many things. Even a cell phone or a loan. Or to rent an apartment... anything. You could get a gas card or store credit card I suppose, but interest rates are horrible. Macy's has a store credit card with a 101% interest rate. Lmao. America is hooked on credit. It was a bad idea. I don't think plastic cards hold any reminder of what your actually spending as opposed to dollar bills. which are almost worthless!

[goovnoh]

in PL we got only Visa and MasterCard $%&$% That`s BS

[ReliableInsider]

Free-market fundamentalists--people who think that markets are always free or that free markets always work--are nuts.

[ReliableInsider]

This is another case that reveals why free markets aren't flawless at all. The consumer has no direct motivation to switch to anyone other than VISA or MasterCard because the consumer doesn't pay the interchange fee (and only here's about it in occasional news stories).

It would be very noble if everybody got a Revolution Card and drove down the interchange rate VISA charged, but that wouldn't be free-market competition.

It would be sophisticated political activism.

[skiie]

It seemed burdensome to have two systems? What is counting hard now? But I do agree, using plastic is a lot more easier. Although I have been to some stores who do cash only or "must spend X amount of money in order to use card"

[ZachariahLogan]

3:22 he says basterdcard instead of mastercard...lol

[emailbryan]

Yes i agree with this story, Visa/Mastercard have too much power and should be broken up! They are abusing the US consumer by making us pay higher rates for everything we purchase and then they claim to be our friends, HA!

[chizzy555]

credit cards are definitely bad to have, pay cash whenever you can

[lola16rules]

@chizzy555: that's not really the point. we should be able to pay with these alternative methods, but visa is abusing their monopoly