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When you take things out of context they often don't make sense. The "they" in the first quote was "retailers." It was not qualified at all, so that should be
by freeopinion 8y ago
When you take things out of context they often don't make sense.
The "they" in the first quote was "retailers." It was not qualified at all, so that should be all retailers around the world combined, from Alibaba to Mom's Bait Shop.
They don't provide any source for that figure, so trust it at your own risk.
- oasisbob 8y agoThe figure sounds reasonable to me. IIRC, a recent figure for US interchange revenue to originating banks was around $40 billion a year. (Interchange fees are a large component of swipe fees.)