We've also heard that it might be viable for businesses not to take credit cards. On Tuesday, many of the witnesses said that wouldn't be a good idea, that the world is not set up that way anymore.
How can businesses say they're not going to accept credit cards--94% dominated by you and MasterCard? So 70% of the customers are coming in, but they have no choice when it comes to the rate they're going to pay when consumers use premium cards. Where is the fairness for both the consumer and the merchant in that? They have no choice.