3 ms·
>It saves business owners 3% or so on processing fees For a "cashless society" surely the fees will be regulated. FWIW, the EU recently limited interchange fee
by thesimon 11y ago
>It saves business owners 3% or so on processing fees
For a "cashless society" surely the fees will be regulated. FWIW, the EU recently limited interchange fees for credit/debit card transactions to 0.2% for debit cards and 0.3% for credit cards.
Add scheme fees (around $0.01 + 0.017%) and acquirer markup and debit cards don't really cost more than 0.5% and credit cards 1%. Often cash handling is a lot more expensive than that.