> Fundamentally 1-3% is actually a very competitive rate for organizing the easy transfer of money and handling fraud
replyThis is a very US-centric take. In the UK, EU and Australia, interchange rates are capped at more like 0.2/0.3%.
That actually proves the point, because a market left to itself arrives at 2-3%, and it only goes lower if the government is dictating a rate.
replyWhat you are missing is that a market left to itself is not necessarily competitive when monopolies/duopolies form.
replyProves what point? GP was saying the government would only increase fees.
reply0% because it’s a service that’s so obviously should be provided by the government is better.
replyHaving been a customer of a government run postal bank, I'm going to hard disagree.
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