On the one hand, yes. But on the other that's also been true of The Gap and Nike. Fruit companies have toppled governments, and people have been shot suppressing unionization in a host of industries.

I am not convinced that the morality is enough to convince the credit card companies to forgo their cut of that "lot of money."

I suspect that the bigger concern is the higher levels of fraud when many participants in a market are unusually uncomfortable turning to public courts to address disputes.