They always said crypto was a lower friction way to move money. It's looking like that is increasingly true.
Look at Square for instance: https://squareup.com/us/en/press/policy-and-pricing-updates
We are updating Square’s refund policy so that processing fees will no longer be returned when sellers issue a full or partial refund to their buyers. We are making this change to more accurately reflect that Square does not recoup in full processing fees from our network and payments partners in instances of refunds, and to match current industry standards.
Stripe has increased the cost of chargebacks and other transaction fees on its customers: https://merchant.mootpay.com/2023/02/23/stripe-increase-chargeback-fees
Stripe, one of the most popular payment processors foronline businesses, have announced changes to their fees in the UK and Europe. The changes, which come into effect on 10 April 2023, will spell an increase in fees for many merchants.
Along will increased fees per transaction, one of the most significant changes is to dispute fees. Currently, Stripe charge a fee of £15 for each dispute raised by a customer. However, under the new fee structure, this will increase to £20.
Last year Paypal increased its fees: https://www.fool.com/investing/2021/06/24/why-paypal-raised-processing-fees-could-backfire
PayPal just announced that it will raise its processing fees for U.S. merchants. Starting on Aug. 2, the rate for each online PayPal or Venmo transaction will rise to 3.49% plus $0.49 -- compared to its current rate of 2.9% plus $0.30 for most online transactions.
However, PayPal's fees for in-person PayPal and Venmo QR code transactions will remain unchanged at 1.9% + $0.10 for transactions over $10, and 2.4% plus $0.05 for transactions under $10.
Visa and Master card increased their fees: https://www.wsj.com/articles/visa-mastercard-prepare-to-raise-credit-card-fees-11646743166
Visa and Mastercard plans included raising interchange fees for many online purchases by around 0.05 to 0.10 of a percentage point
American Express, Discover increased their fees last year: https://verisave.com/april-2022-update-card-brands-increase-merchant-fees/, https://merchantcostconsulting.com/lower-credit-card-processing-fees/the-complete-guide-to-amex-interchange-and-processing-fees/
It's crickets on the cryptocurrency frontier with respect to fee changes because fees are variable and sender pays the fee/toll instead of a merchant. Is cryptocurrency a viable value movement system? Yes. When? Suppose when something gives in such as too much payment fees on merchants and more regulation on cryptocurrency. Stablecoins will absolutely destroy the current system for bigger businesses especially. Paying a flat fee to move millions rather than a percentage? What big business isn't going to do it? and who says they aren't today.