POS terminals lead to higher prices in markets

Prices for farm products began to rise as mandatory use of POS by sellers forces consumers to pay high bank fees for card transactions.

According to Mega, some merchants who took care of purchasing POS long before it became mandatory say that they are not designed for transactions with small amounts.

Transaction fee

For the second day now, the mandatory use of electronic transaction terminals has been introduced, but some sellers still have not acquired this device. Card transactions are reported to incur fairly high fees, meaning that in many cases it is not cost-effective for small businesses to accept card payments. Commission for conducting transactions in banks:

• Piraeus Bank: for each transaction in Piraeus Bank it ranges from 0.80% to 1%, depending on the agreement that the business has concluded, and for IRIS Payments the bank commission can reach 5 euros.
• Ethniki Trapeza: for each transaction using POS is up to 1%, and for IRIS Payments – from 0.20 to 0.50 euros.
• Eurobank: If a company purchases a POS from Eurobank, the transaction fee reaches 1.25%.
• ALPHA-Bank: The cost of the transaction fee in Alfa Bank is 0.70%, while in IRIS Payments in electronic channels it is free, and in some cases can range from 0.20 euros to 0.50 euros.

To the specified amount you need to add 1.8-2.5% for using different types of plastic cards (Visa, Naster Card, Dinners), which must be paid to international companies for using their services. Thus, 2% to 4% must be added to the cost of each transaction.

Problem with small transactions.

It should be noted that banks have also set a minimum commission amount for each payment, which ranges from 5 to 30 cents, depending on the bank and the terms of the agreement, which means that when buying a cheap product, the seller will be forced to give all his proceeds to the bank.

As the Athens News wrote earlier, transfer of all payments to a non-cash basis is not only a way to control taxes, but also a way to increase bank profits. Additionally, this means that each citizen’s payment profile will be tracked in real time – what and where you bought, as well as how much you spent. On the one hand, this will allow the authorities to better control the situation in the economy and taxation, but on the other hand, it poses a great threat.

Limiting cash will enter the life of every person not on its own, but in combination with digital identification

Renowned American producer Joe Rogan recently warned Americans (and by extension Greeks) that the elite are seeking to achieve total control over Western societies through a combination of digital currencies and new digital wallets (such as those that will be introduced by the Greek government by 2026). . Which in the future may be linked to bank accounts and a special social credit system based on a points system for “good behavior”, like in China.

In China, as you know, every citizen earns points for “good behavior”. In short, if the authorities like him for what he says and does, he gets a certificate “good citizen”, which means he has access to financing and benefits! And one way to achieve this goal is through electronic ID cards combined with the virtual elimination of cash.

This is precisely why representatives of the collective West criticized China, accusing it of a digital dictatorship. However, then… they decided to apply a similar system in the European Union.

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