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Visa and Mastercard are cards owned by the banks. They take a cut mostly because they can, but also because the infrastructure involved to process a transaction
by aston 16y ago
Visa and Mastercard are cards owned by the banks. They take a cut mostly because they can, but also because the infrastructure involved to process a transaction isn't free. For what it's worth, non-bank cards like American Express take a larger fee.
- stanleydrew 16y agoI don't understand what you mean by "Visa and Mastercard are cards owned by the banks."
- seiji 16y agoYou can't go to Visa/MC and get a card. You have go go through an issuing bank. As opposed to Amex where your card is issued from them directly (though, they do have bank issued Amex cards too).