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Recent global economic woes have combined with the continued rise of alternative payment methods to finally mount a serious threat to the traditional credit card.
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From a merchant’s perspective, the cost of accepting credit cards — and the associated hidden fees — can make accepting payments online prohibitively expensive. Clearly it’s easy to see why credit-based products that were designed from the beginning for the online experience are rapidly gaining market share.
http://mashable.com/2011/03/02/credit-card-decline/
hat tip to Jon Matonis @jonmatonis on Twitter