2 ms·

1. No it isn't. Credit card fees are far lower than this. https://www08.wellsfargomedia.com/assets/pdf/small-business/merchant/merchant-passthrough-fees.pdf htt

• labawi 6y ago
  I presume you quoted a part of the end-to-end fees. A random link[1] suggests about 3% effective rate for USA. I think in EU fees are legislatively capped at 2% or so. > In general, merchant processors will likely offer you an effective rate somewhere between 2.9% to 3.3%. You can try to negotiate that down, especially if you have high sales volume. [1] https://fitsmallbusiness.com/credit-card-processing-fees-2/ https://fitsmallbusiness.com/credit-card-processing-fees-2/
  • ajsharp 6y ago
    Yes, effective processing fees are consistently around 2.9%. The previous comment was basically saying, "hey! whaddya expect! credit card companies do it, so why not!?" My point is that, actually, no, they don't really. The visa+MC per transaction fees are actually quite low, unless I'm reading that wrong. Again, this is a complete sidebar to the actual point, which is that banks are just rent-seeking because they can on these loans.