A percent of every card transaction goes to cover system's losses on fraud. There's value in the costs being predictable, stated up front, etc, but it's not fundamentally different.
IMO that predictability makes it fundamentally different. I can handle a regular 2% fee, but I can't really handle a sizable chance that I'll be completely wiped out.
Exactly! I know how to fire a gun, tie a tourniquet, extinguish a structure fire, and set aside an emergency fund. I also know that paying someone else to relieve me of having to worry about these things is money well spent. You call it regulation, I call it peace of mind.
