capitalism *is* fun :-)

I ran down to the nearest convenience store to pickup a few small things. When I was about to pay with my credit card, I have noticed a nice announcement: “We only accept credit cards issued by X bank”. Apparently, in the past days, the bank that offered the POS terminal for the store, decided not to accept any Visa/Mastercard cards, but to only cards issued by them. I bet people will immediately get a new credit card with some obscure bank just because at some convenience store they will only accept *their* cards. When a bank has like 0.00000000000001% of market share, it can force people to only use their cards …. or not.

I wonder if losing all the fees they got so far for processing any Visa / Mastercard will be replaced by perhaps one (or none) person that will get a card from them.

I love this Kamikaze way of doing business: You are do business with us, or die. Oh well … I won’t miss them once they leave the market like many other banks using crappy tactics.

I was in their marketing department, perhaps I would have slashed the fee charged to the convenience store by a bit, in exchange of letting me advertise my products in their store.