Dogecoin’s (CRYPTO: DOGE) official X account encouraged businesses on Wednesday to adopt DOGE payments to avoid paying credit card fees amid Elon Musk’s ‘X Money’ payments beta rollout.
‘Just Accept DOGE’
The popular memecoin asked, “If you run a business, just accept Doge. Why pay a 2-3% fee to a credit card company?”
Exact global figures are hard to ascertain due to varying regional data, but in the U.S. alone, credit card firms earned $148.5 billion from merchant fees in 2024, according to a Motley Fool report.
Meanwhile, the Dogecoin network has collected $962,000 in transaction fees over the last year and $5.6 million over the last three years, according to data from Token Terminal. The average transaction fee stood at $0.03 as of this writing, as reported by BitInfoCharts.