Buy Canadian

1593 readers

386 users here now

A community dedicated to buying Canadian products.

Une communauté dédiée à l'achat de produits Canadiens.

Rules:

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

2. Absolutely no bigotry will be tolerated. This includes, but is not limited to, racism, sexism, homophobia, transphobia, etc.

3. AI Content Policy

Not allowed: AI-generated images or articles

Tolerated: AI-generated post summaries

4. Only content in French and English is permitted

5. Declare all self-promotion

Users are encouraged to report any content that violates our community guidelines

Règlements :

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

2. Aucune bigoterie ne sera tolérée. Ça comprend, mais sans se limiter à, le racisme, le sexisme, l’homophobie, la transphobie, etc.

3. Politique sur le contenu IA

Non permis : Images ou articles générés par l'IA

Toléré : Résumés IA de publications

4. Seul le contenu en français et en anglais n'est toléré

5. Déclarez toute auto-promotion

Les utilisateurs sont encouragés à signaler tout contenu qui ne respecte pas nos directives communautaires

Related communities: Communautés connexes :

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

founded 2 years ago

MODERATORS

LightOnFoot@lemmy.ca

CowsLookLikeMaps@sh.itjust.works

AlolanVulpix@lemmy.ca

isVeryLoud@lemmy.ca

641

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

submitted 2 days ago* (last edited 9 hours ago) by Albbi@lemmy.ca to c/buycanadian@lemmy.ca

151 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.

you are viewing a single comment's thread
view the rest of the comments

[–] SpikesOtherDog@ani.social 9 points 2 days ago

Please understand that there are also many third party card processors. That is the company that takes the transaction from the merchant to the payment system. The payment system then takes the transaction to the bank.

Don't be discouraged, but someone may need to become card processors to vendors.

Pressure on Visa and MasterCard may work, but the boycott will need to overcome license fees.