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Canada needs its own credit card payment method. (piefed.ca)

submitted 2 weeks ago by cyborganism@piefed.ca to c/canada@lemmy.ca

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The US have a monopoly on credit card payments with Visa, Mastercard, American Express, Diners Club, etc.

Even with online payment systems like PayPal, GPay, Apple Pay.

The only Canadian option that I know of is the new Shop Pay, which is owned by Shopify. (And we all know the founder CEO, Tobias Lutke is a far-right fascist traitor who loves the idea of being a 51st state.)

Right now Visa and Mastercard are controlling what stores can sell, and what services can be provided. Censoring online content, like asking Steam and Itch.io to remove certain games.

What are examples of alternatives in other countries? I know that Japan, for example, has their own independent ones, I think?

Do you think they might be refused by American companies in order to keep their monopoly?

I'd like to know what you think.

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[-] YesButActuallyMaybe@lemmy.ca 6 points 2 weeks ago

The incentive is to exchange money for goods without having to carry cash around. Like yeah you get points and shit for cc transactions but if you can’t see that the customer is not the one who benefits and it is merely a tool to drive engagement then I can’t help you.

[-] Enkers@sh.itjust.works 7 points 2 weeks ago* (last edited 2 weeks ago)

I mean, for me it literally makes all my purchases 1% cheaper for zero cost so long as I pay the full amount monthly, which I do. It'd make no financial sense to not take advantage of it.

This IMO is part of the problem, because I'm incentivized to take money away from local businesses and give it to the CC duopoly.