A cap on credit card fees would hurt department stores most
A cap on credit card fees would hurt department stores most
- April 29, 2024
- Bill Maurer, anthropology, Marketplace, April 29, 2024 (Audio)
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Credit cards were invented by retailers. “In the beginning, this was just done as a bookkeeping thing,” said Bill Maurer, a professor of anthropology and law at the University of California, Irvine. “You know, in a notebook, behind the counter, essentially.” … “Retailers and merchants really sought a way to get customers to keep coming back to their shop instead of going to their competitors to the point where some merchants almost functioned like bankers,” Maurer said.
For the full story, please visit https://www.marketplace.org/2024/04/29/credit-card-fee-cap-department-stores/.
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