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RE: Another Breakthrough: STEEM About To Be Accepted Everywhere: STEEM Payment System (On The Bitshares Blockchain)

in #steem7 years ago

Yeah and the fees that MC and Visa charge arent small....

Depending upon the business and how tight the margins are, 2% or so can be rough.

Imagine grocery stores that operate on roughly a 6% margin...that fee is high...and most groceries are bought with MC/Visa is would guess.

The .5% onus is on the consumer but, when you think about it, that is a lot less than the amount one pays to convert crypto into fiat on the exchanges.