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thenewgreen · 3921 days ago · link · · parent · post: Meet the Low-Key, Low-Cost Grocery Chain Being Called ‘Walmart’s Worst Nightmare’
The national average for credit cards in the US is around 2.62%. My guess is that with WalMart's buying power, they have their processing at interchange and it's closer to a 1.8% rate. That means that by accepting cash only, this new chain has around 1% to play with in regards to margin on their items. That said, I would never shop somewhere where I couldn't use my credit card and incur rewards points and the convenience of not having to carry that much cash. But, I guess I'm not their demographic. I can say I've never purchased anything at a WalMart. At this point it's a point of pride, like saying you've never been to a McDonalds. Most people think I'm lying, but it's the truth.