Submitted by HRJafael t3_zucx7f in technology
9-11GaveMe5G t1_j1kayq2 wrote
Reply to comment by ghx16 in U.S. orders Mastercard to stop blocking competing payment networks by HRJafael
>You are a Costco member and don't know about their shenanigans
As another comment mentioned, it's not "shenanigans". Costco negotiates a lower credit card transaction fee in exchange for exclusivity. This results in savings that help keep prices down. And before you say they just pass on the cost, the vast majority of Costco profit is not from product sales, so the lower fee directly benefits members.
ghx16 t1_j1kdl4v wrote
Oh don't worry I'm quite aware how things work at r/costco. I kept hearing wondering things about it left and right and ever since I became a member in 2019 they just keep removing more and more member benefits left and right without replacing them with anything else, the latest one is removing 2-year extended warranty from their citi credit card just this month
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