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The claim is that the fees primarily cover fraud and fund various consumer protections. It would be interesting to know how much of the 3% that actually is.
by pishpash 8y ago
The claim is that the fees primarily cover fraud and fund various consumer protections. It would be interesting to know how much of the 3% that actually is.
- TACIXAT 8y agoI bet a lot of those go to rewards. Also, cards are pretty insecure. Maybe a phone with a lock on it to prevent physical theft and use, and all the data you would have associated with each transaction would make a great fraud detection system.
- driverdan 8y ago> I bet a lot of those go to rewards. This is the kind of thing you should know off the top of your head if you're interested in competing with them.
- TACIXAT 8y agoYea, that's one piece of information I haven't found. I'll have to look if it's in SEC filings for credit card companies.