Credit cards processing and its costs
Commerce would be simple, a part who sells, another buying. Involving a third part willing to gain money from the interests, credit card is a special actor. In the US, this method of payment is tremendously common, ad that's one of the main differences between European and American economy. Think how many people are involved in long terms loans oppressive mechanism. However in those situations, import of the loan, mortgages and everything was decided once and for all, in a precise time. That's not exactly credit card's case! Seattle company Gravity, accepting credit card payments by charging as little as possible while supporting independent businesses 24/7, is creating some facilities. The Founder began to witness thousands of small business owners being overcharged and under served by their credit card processors. He knew that was unfair, so he decided to blow the industry when he was at college. American condition nowadays about cards debts is bad. In economic depressed conditions, research shows there is more possibility to act irrationally. In any case, compulsory buying seem to be increased by credit cards use. As some personal finance author say credits cards can easily drive in too-many-debts-situation and there is no possibility to increase wealth through their use.