the The Kroger subsidiary, Smith’s Food, one of the largest retail chains in the US, has set the acceptance of payments with Visa. Basic to high fees. Pomp responds promptly and gets a whiff of a Chance for Lightning.
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5. March 2019BTC$3.850,78 , 3.33%Facebook Twitter LinkedIn xing mail
monopolies, as one learns in Economics, are never good. Because the resulting market power to skim from the skilful monopoly, usually to the disadvantage of the consumer. The result is often poor Service at high prices. According to healthy competition.
Because of Bitcoin, and friends existing monopolies threaten, here and there are cute Stories that nourish the crypto-Narrative.
this is what happened in the United States. After Visa increased its fees for the processing of transactions, apparently, gradually, drew the largest food chain in the United States Kroger is now the plug-in: Smith’s Food & Drug Stores, a Kroger subsidiary, does not accept payments made with Visa credit cards.
Smith’s has about 20,000 employees in the United States and is one of the leading food chains in the country.
“Visa abused for a Long time his Position and collects from the merchants excessive fees,” by Mike Schlotman, CFO of the Kroger. And more: “you hide the customers, what to charge Visa and its banks to retailers for the acceptance of Visa credit cards. In Smith’s the credit card fees from Visa-higher than any other credit card company, we accept. The excessive nature of the fees […] we can not ignore.“
fortunately, there is Lightning.
Then with Bitcoins grace
The crypto thought, at least-Influencer and Podcaster Anthony Pompliano and presented to the group the following offer:
Grocery store @kroger is stopping acceptance of @Visa in over 250 stores because of network fees.
Who knows someone on the leadership team there?
The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide.
