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mercutio2 4 hours ago

Because adding friction will deter many impulse purchases. Americans use credit cards constantly. The equilibrium would be perturbed in a way very much not advantageous for the credit card issuers if consumers became more cautious about using credit cards.

It’s the same reason credit card issuers are willing to pay Apple a few basis points to participate in Apple Pay: reducing friction has a non-linear impact on propensity to pay.