Traditional Culture Encyclopedia - Traditional customs - Traditional Industries Eliminate Card Payment Methods
Traditional Industries Eliminate Card Payment Methods
Reasons why traditional industries are canceling card payment methods.
Once upon a time, card payment was a fashion, replacing cash payment to a large extent. However, after Alipay and WeChat swept in, cell phone payment became the protagonist, but most of the consumer places still retain the POS machine, supporting the card payment method.
For merchants, "maximizing profits" is a sensitive issue. In addition to rates, supporting card payments means installing POS machines, accepting UnionPay's review, and maintaining them later. Brush credit card rate is 0.6%, debit card rate capped at 0.5%. "Smart POS can scan code payment, scanning Alipay's payment code is zero rate, scanning WeChat's payment code is 2 per cent." Compared with swiping a card, the rate is much lower.
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