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Addendum: 0.3% for credit cards issued by Visa and Mastercard. 0.2% for debit cards. Interestingly, there is no law limit for American Express and Discovery (my
by danmaz74 11y ago
Addendum: 0.3% for credit cards issued by Visa and Mastercard. 0.2% for debit cards. Interestingly, there is no law limit for American Express and Discovery (my guess is that Visa and Mastercard were somehow selected for their dominanti position).
- germanier 11y agoNo, the limit also applies to other smaller national schemes. The real difference between Visa/Mastercard and Amex/Discovery is the the former only provide the payment network (the interchange is used to give a cut to issuing banks) while the latter issue their own cards.
- danmaz74 11y agoThanks for the clarification. I was going to ask if this meant that for merchants there would also be additional fees on top of the interchange rate, but already saw your other comment stating this...