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7% CC fees? Are you crazy? The EU regulated it at less than 1%.
by martinald 9y ago
7% CC fees? Are you crazy? The EU regulated it at less than 1%.
- kuschku 9y agoThe EU regulated VISA and MasterCard, and only since a year ago. AMEX still takes 7% fees, even today, and even MasterCard and VISA could take those fees in 2015 still.
- martinald 9y agoOk, don't accept AMEX then (that's common for a lot of shops to not accept in the UK). It's definitely not 7% though, considering Stripe offers AMEX processing for 1.4% in the EU. Can't see any reason not to accept MC/Visa now though.
- kuschku 9y ago> Can't see any reason not to accept MC/Visa now though. Still 10 times higher fees than with the German card systems. If your profit margin is 1.4%, you can't afford 2.2% credit card fees. And if you increase the price, all customers go to the cheaper competitor. German stores are in a reaaaaal close competition with these things.