"Note the comments from Don Apgar, Director of Merchant Payments at Javelin Strategy and Research, who points out that since processors who service merchants in Illinois will need to modify their platforms in response to the legislation, they will likely raise prices to merchants. ... In fact he says that some processors may choose to not make the investment and simply terminate Illinois merchants!"
Some processors will leave the Illinois market and the ones that remain will simply raise their rates.
Ex Illini
1 year ago
By all means, make it more difficult to complete transactions. People really enjoy standing in line while all the people in front of them try to figure out how and what they have to do. And if merchant processors decide not to play in Illinois, they’ll be new terminals all over the place. Illinois just can’t seem to get out of its own way.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Some processors will leave the Illinois market and the ones that remain will simply raise their rates.
By all means, make it more difficult to complete transactions. People really enjoy standing in line while all the people in front of them try to figure out how and what they have to do. And if merchant processors decide not to play in Illinois, they’ll be new terminals all over the place. Illinois just can’t seem to get out of its own way.