The gas stations would have never had any credit card uptake without it and people have to buy gas and are extremely price sensitive so would have continued shopping at cash only gas stations.
Unlike say a clothing store where the convenience of credit overcomes the price sensitivity, you can defer the purchase and the merchant has higher margins.
The gas stations would have never had any credit card uptake without it and people have to buy gas and are extremely price sensitive so would have continued shopping at cash only gas stations.
Unlike say a clothing store where the convenience of credit overcomes the price sensitivity, you can defer the purchase and the merchant has higher margins.