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Visa and Mastercard don't use a scheme fee in the U.S. The credit card system is structured differently here than it is in the EU. Generally, Visa and Masterca
by gamblor956 6y ago
Visa and Mastercard don't use a scheme fee in the U.S. The credit card system is structured differently here than it is in the EU.
Generally, Visa and Mastercard simply charge more per transaction for different cards in the US. For example, rewards cards cost merchants more, which is why many gas stations won't accept them.
- BillinghamJ 6y agoThe interchange is higher, sure, but that still goes to the issuing bank. Working with schemes still involves separate fees, as does processing and acquiring.