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Australia doesn't have the excessive merchant fees, the interchange fees in Australia are regulated under banking laws. This is a key part of the problem. The
by jpgvm 10y ago
Australia doesn't have the excessive merchant fees, the interchange fees in Australia are regulated under banking laws.
This is a key part of the problem. The interchange fee is only between 0.5-1.5%. The banks already make very little on payments so there isn't much profit left to go around.
- germanier 10y agoIn the EU interchange is capped at 0.2%-0.3% and still UK banks (and now French banks) offer Apple Pay (they are said to have gotten a better deal by Apple than in other countries).