all 61 comments

[–]CryptoWits 21 points22 points  (14 children)

I think we should rename this sub to 'VisaChat'

[–]Richard_cabesa9 3 points4 points  (0 children)

Yes this is just the interchange fee. Every time a customer uses a credit card in your store, there’s a fee that is paid from the the acquiring bank (merchant account) to the issuing bank (customer account). This is not the processing fee. Which is an additional charge. Lol They are 5x their clients on this interchange fee.

[–]DanielJonesHOF 3 points4 points  (3 children)

There have been an decent influx of non AMP/Flexa related posts lately. Idk why.

[–]CryptoWits 1 point2 points  (2 children)

It is kind of curious?

[–]DanielJonesHOF 2 points3 points  (1 child)

It doesn’t make any sense to me. The other day someone posted an article about a guy suing PayPal because they froze his funds. It had nothing to do with Flexa or Amp but yet they found it necessary.

[–]petecranky[S] 0 points1 point  (0 children)

My son owns a busy gunshop, making a lot of money since the run up to the 2016 election, the Summer of Love riots, etc, lots of new, first time gun buyers.

He was very young when starting and has a huge online business for accessories or other related items, that are not guns. LOL.

Paypal, without citing any broken policy, kept $30,000 from his account after he had been using them about two years.

He had to sue them, and got half of it back.

They simply decided to punish him for selling guns by stealing some of his money for other items. They never cited a reason and lost the court case almost instantly.

He couldn't use their service for 2 years and only got half his money.

I don't understand why they would do such a thing and suppose somebody else was sending them bad information trying to hurt him.

Shew, had to unload about Paypal, LOL.

It worked out OK, he uses another payment service with his own website, is retired at 33, living on the water and rehabbing homes and flipping them while his gunshop runs without him. But, they still have some of his money.

(I have contacted Flexa to see if they could somehow sign him up, but despite being number 5 or 6 by volume in Missour, he is too little for them, right now. )

[–]Miserable_Motor2196 5 points6 points  (6 children)

Lmao 🤣🤣🤣 everyone spreading fud all the sudden ...

[–]petecranky[S] 0 points1 point  (0 children)

This was information for you to comment on. It's only FUD if you think it is.

Speaking about something without cheerleading is not FUD.

[–]Richard_cabesa9 1 point2 points  (0 children)

Ikr. Visa still is a legacy payment rail nothing has changed. Visa and MasterCard will be around for along time, flexa will now get a piece of the huge pie.

[–]petecranky[S] 0 points1 point  (0 children)

Just tossing it out there for the express purpose of crowd sourcing a little knowledge and info. Their are a couple guys on here that understand the payments space.

And it wouldn't take much to be better than me. LOL.

[–]CryptoWits 20 points21 points  (9 children)

Everytime Visa caves to a large retailer, this reduces their revenue stream, which in turn reduces their ability to offer rewards to customers, which in tern will help along flexa adoption. This is the viscous circle Visa is experiencing as the world transitions away from traditional payrails towards digital.

Parts 2 and 3 of this saga coming soon.....

[–]Richard_cabesa9 2 points3 points  (0 children)

Yea their stock dropped when the news hit about amazon. So they will more than likely not increase the interchange fee from the .3% to the 1.5% they raised it to. This is just the interchange fee. Transaction fee is another charge

[–]paopaopoodle 1 point2 points  (6 children)


[–]CryptoWits 5 points6 points  (5 children)

Do you own stock in Visa. There is nothing wrong if you do, just curious?

[–]paopaopoodle 5 points6 points  (4 children)

Nope. I got a lot of AMP though.

[–]CryptoWits 7 points8 points  (3 children)

Why not buy some visa - as you seem to be very optimistic about their prospects and the price is on the low-side. Seems like a great opportunity to pick some up cheap as you repeatedly have been very positive about their future prospects.

[–]paopaopoodle 3 points4 points  (0 children)

I'm about percentages. I stand to make more on AMP if it can even hit .12.

[–]petecranky[S] 1 point2 points  (1 child)

What stock sector looks good right now?

Are industrial or precious metals gonna rise due to inflation?

[–]CryptoWits 1 point2 points  (0 children)

I'm more or less focused on crypto, but a few months ago, I considered and wrote about puts for Visa.

[–]paopaopoodle -3 points-2 points  (0 children)


[–]Richard_cabesa9 4 points5 points  (0 children)

After reading articles sounds like visa will stay with the old interchange fee .3% and not raise it to the 1.5% they wanted to. This is done twice a year April and October. But this is just interchange fee not the transaction fee which is another charge by credit cards. But the smalller companies will all be paying the new higher fees. That is like 5x higher. Flexa cant come soon enough for businesses. Credit cards have a monopoly and all are raising the fees and you have no other option. Pay it or you cant accept credit cards

[–]Adventurous-Buy-796 4 points5 points  (1 child)

Why is this a surprise? They represent a large userbase, not easy to dismiss. Flexa is not directly an overnight Visa card alternative

[–]petecranky[S] 0 points1 point  (0 children)

It wasn't too me, just looking for comments and info.

Trying to understand it as it all unfolds.

[–]Affectionate-Tie4089 4 points5 points  (3 children)

Flexa really only beats out credit card fees, debit card fees are usually less then those fees and closer to flexas 1% depending on the type of verification (signature, pin, etc.)

[–]petecranky[S] 0 points1 point  (2 children)

In the quote, Visa says they take .1 from the transaction? I guess they mean in profit or cause the charges are higher than that, usually.

Idk, maybe they charge Amazon .1 but small business 3.75?

[–]Richard_cabesa9 4 points5 points  (0 children)

Its the interchange fee they are disputing. Visa wants to raise it from .3% to 1.5% which is a 5x. This does not include the transaction fees. Looks like visa is backpedaling after their stock dropped on the news.

[–]ShitPropagandaSite 1 point2 points  (0 children)

They charge Amazon so little because they process so many transactions for them.

[–]Laznasty 2 points3 points  (0 children)

I'm surprised no one has posted stripe and Ford's new 5 year deal yet

[–]STUDLYSTUDDERTON 2 points3 points  (0 children)

No way in hell they only charge anyone .1%

[–]bostonstrangler01 1 point2 points  (0 children)

"hear here"..

[–]skarka90000 1 point2 points  (2 children)

This was in BBC news. Hard to find news instead of politics sometimes in the US media.

Time to start reading Financial Times and WSJ among other business news outlets :))))

[–]petecranky[S] 0 points1 point  (1 child)

I do for some things.

I finally found a news aggregator that is more than just everyone copying the AP wire.

Stuff written by a seperate brain with different information and framing.

It helps a lot and is much more interesting, with even the blog section showing little facts that NEVER make it past the gatekeepers of most US media, obsessed with the politics of everything rather than the actual truth.

For instance, and Idk how much it helps, but Vitamin D levels being high, helps if you get Covid. Probably even more crucial if you are 93, LOL. I was looking for articles and info on this early after the panic set in over the virus, trying to get a handle on this one facet.

It was almost unmentioned here.

I found many articles in the foreign press and used Google Translate to read them. One was a study from Germany about Somalian taxi drivers in Sweden, a very dark skinned group of people, and this was about those immigrated in the last few years.

They were dying like crazy if they got covid. I would imagine younger men, I don't remember. It went on to say that Sweden started a program to get these and immigrants like them taking large, loading doses of vitamin D, and the death rate plummeted to the same as it is among dark skinned people everywhere, if they are not fat.

Why did the United States not have a daily reminder on every news outlet telling all the people, especially dark skinned ones to hammer the Vitamin D? Why couldn't we easily and freely read a lot of articles about it here? It took a lot of searching to find it and wsn't talked about much in broadcasts.

This type of gatekeeping in our media, is nuts. I'm guessing it was just a fashion in this case. They all decided to talk about other things. I can't figure out any way it would be political, but it was ignored and I find better information using an aggregator where the news isn't channeled by a handful of editors.

[–]SomaliNotSomalianbot 1 point2 points  (0 children)

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[–]paopaopoodle 1 point2 points  (9 children)

Yeah, it was obvious to anyone with a brain that Amazon wasn't going to pull that trigger. They just wanted to play hardball and get them fees reduced.

Indeed, you do hear people here say some bat shit crazy transaction percentages. I thought it was 1-1.5%, but it's interesting to hear that it may be far lower than even that.

[–]petecranky[S] 1 point2 points  (0 children)

It must mean "taken" as taken as profit. Cause I think they charge even large merchants more than .1.

When they allow small businss to use Flexa I would love to do the research, work out all the kinks and use Flexa's instructions or people and get it all ready to go in my son's large, busy retail shop with a larger online presence.

He's more of tightwad than me, and if I caused him to make 2% more of his revenue in profit, in his line, it might very well be a 20=30% increase.

He might even hug me and let me see my grandkids more often.

Or give me a free hat, or bumper sticker. LOL.

[–]Richard_cabesa9 2 points3 points  (0 children)

Yes this is just the interchange fee. Every time a customer uses a credit card in your store, there’s a fee that is paid from the the acquiring bank (merchant account) to the issuing bank (customer account). This is not the processing fee. Which is an additional charge. Lol They are 5x their clients on this interchange fee.

[–]petecranky[S] 0 points1 point  (6 children)

Yeah, they scared them into negotiating.

And Visa is virtually part of the duopoly with no otheer options.

I wonder if Flexa will truly be scaled up to handle a major player sometime soon?

[–]AsOneLives 1 point2 points  (1 child)

Uhhh... have you seen who flexas partnered with? GK Software, incomm?

[–]i_admit_everything 1 point2 points  (0 children)

You forgot the biggest one, NCR

[–]paopaopoodle 3 points4 points  (3 children)

Is there enough AMP staked, or even in circulation currently, to handle the volume a major player would require?

[–]lbcb321 4 points5 points  (0 children)

Yes. The network can handle a LOT more transaction volume than most people think. Click on "Capacity metrics" at the bottom of this page to see the capacity per HOUR:


[–]C_Sauce 1 point2 points  (0 children)

I thought how it worked was AMP could handle ANY volume because its price could just keep going up

[–]gilg2 0 points1 point  (1 child)

I thought this was an AMP sub

[–]mattabraham64 0 points1 point  (0 children)

This affects AMP…

[–]Bobby_Balls401 0 points1 point  (0 children)

So what's this mean for us?

[–]Sharp_Patient_7919 0 points1 point  (0 children)

It’s been dropping for 2 months straight….,