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

submitted 1 day ago* (last edited 1 day ago) by Albbi@lemmy.ca to c/buycanadian@lemmy.ca

114 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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[–] naeap@sopuli.xyz 4 points 20 hours ago* (last edited 20 hours ago) (1 children)

Well, when on business trips, I can't just have a bunch of cash with me, so I could pay for hotels and every eventuality
Is there any way around that?

[–] knightly@pawb.social 3 points 18 hours ago (1 children)

Best I can think of is taking a traveler's check to a local bank or currency exchange.

[–] naeap@sopuli.xyz 2 points 18 hours ago

Hm...ok, thanks

I'll evaluate my alternatives

Also, sometimes buying something online, because I quickly need the hardware, only really works with credit cards.
All though real time money transfers at least start to speed up the traditional way ...