Quote:
Originally Posted by ElDiabloJoe
Digital banking was *supposed* to be faster, more secure, and less costly to banks and other financial institutions. Same with ATMs. Supposed to cut down on expensive tellers. Now we are getting charged for their cost-savings measures.
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OK, it
was faster, it
was more secure, and it
was less costly. However, after the transition to digital, everyone's costs are back to stable and equal. And the processing network still incurs increased costs annually, and the speed of validation is millions times faster than the initial speed for the millions of worldwide transactions done daily. . so yes, the costs have stopped going down, and are now going up. . and there are alternative ways to pay bills other than credit cards which don't cost anything. .
capitalism seeks increased revenue and profits annually. If ever there was a captive audience, credit card processing networks is one of them, and there costs go up every year.