18% is freakishly *huge*, we're talking about the whole of the US here. What's w... | Hacker News

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		ur-whale on June 29, 2020 \| parent \| context \| favorite \| on: Forget Google, time to end the Visa-MasterCard duo... 18% is freakishly huge, we're talking about the whole of the US here. What's worse, if you look at the details, there is a swath of products that are darn near impossible to buy without a credit card.

xur17 on June 29, 2020 [–]

And it's important to remember that ACH is typically used to:

* receive direct deposits

* pay credit card bills

* pay rent

Which represent a large amount of the value transferred vs number of transactions.

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