Some businesses operate with a low sales margin and high volume to cover their fixed operating costs and aspire profits. There are extreme cases in which the margin per product sold does not reach 1% of the sale price and, for these businesses, a minor change in payment method costs can easily mean the transition from blue to red numbers.
The described scenario portrays the case of Sencillito and ServiPag, which recently announced to their customers and associated businesses that they would no longer receive credit card payments, since processing this type of payments become more expensive to such levels that are not even entirely clear.
I believe that the Chilean case of lack of competition in the payment industry will be part of advanced courses in economic theory.……..