Transcript
Uber was offering a 30% discount to change your payment type to Pay by Bank. You can’t compete with that with a card, right? Especially if you’re using a debit card to pay for your Uber.
I would immediately default to Pay by Bank, which means all that interchange, from a bank or credit union perspective, just goes away.
Well, I think that merchants tried the punishment aspect for a long time. Like, “I’m going to charge you a convenience fee if you use your card.”
Doesn’t work.
It doesn’t work. Correct. And so now they’re trying the benefit way.
Yeah.
“I’m going to give you something extra, something of value.”
Even if it’s short-term and it’s one time.
Even if it’s short-term, right. Exactly. “But I’m going to give you value if you do Pay by Bank.
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