Buy Canadian

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A community dedicated to buying Canadian products.

Une communauté dédiée à l'achat de produits Canadiens.

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1. Posts must be related to buying Canadian-made goods and / or using Canadian-owned services

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1. Les poteaux doivent être en lien avec l'achat de produits et / ou de services opérés par des canadiens

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Related communities: Communautés connexes :

!buyeuropean@feddit.uk !buyafrican@baraza.africa !boycottus@lemmy.ca !canada@lemmy.ca !canada@lemmy.ml ___

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637

Let's stop playing around and talk about ditching something big: Visa and Mastercard (lemmy.ca)

submitted 2 days ago* (last edited 2 hours ago) by Albbi@lemmy.ca to c/buycanadian@lemmy.ca

150 comments fedilink hide all child comments

Visa and Mastercard are American companies, and they essentially tax everybody by taking a percentage of purchase prices for themselves. Not exactly a small percentage either, 1.2% to 2.65%. Ever wonder why so many merchants say they don't accept American Express? That's because they charge quite a bit more to merchantes, 50% more than Visa or Mastercard. Anyway, we're letting American companies tax us and we love them because we get rewards when we use cards. But it's just a shell game because we pay more up front because businesses need to charge more to make up for payment processing charges. They get to sit in the middle and rake in the money.

Now the alternative in Canada is Interac. Interac charges a set amount per transcation. How much? 2 to 5.5 cents. Unless you're going through Apple or Google Pay, and then it's a percentage again.

Interac is also Canadian.

Want to stick it to Trump? Stop using credit cards (and Google Pay or Apple Pay) and switch to Interac. Want to make Canada better? Stop using credit cards and switch to Interac. Is it going to be inconvenient? Yes. Online shopping will be much harder but I have seen online Interac payments before and we can ask our favourite Canadian merchants to accept Interac online.

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[–] knightly@pawb.social 66 points 2 days ago (19 children)

I work for an American credit card company, and my advice is to ditch credit and debit cards entirely. Use cash.

[–] CosmicTurtle0@lemmy.dbzer0.com 30 points 2 days ago (4 children)

Credit cards (when used correctly) is one of the few pro consumer products we have left.

Most cards come with fraud protection, something you cannot get with cash, checks, or gift cards.

Similarly, most cards come with purchase protections like extended warranties. I have a credit card that gives me free damage protection on my cell phone so long as I pay the monthly bill with it.

I'm not saying cash isn't great but there are good reasons to use a credit card. At least for now.

[–] zqps@sh.itjust.works 1 points 15 hours ago

Right, but that shit should be required by law, not bequeathed by US tech monopolists at a ridiculous fee.

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