4 ms·
> Do normal credit cards there not have cash back benefits? Do credit cards exist or because naturally they would charge you interest, do they not exist? It's i
by vladvasiliu 6y ago
> Do normal credit cards there not have cash back benefits? Do credit cards exist or because naturally they would charge you interest, do they not exist? It's interesting how there's a whole different ecosystem of apps in the part of the world that most of the world lives in.
I'm not familiar with how credit cards work there, but from my point of view cash-back benefits aren't all that widespread. Aside from AmEx I'm not familiar with any such arrangement available in France. And even AmEx is pretty much a joke, you'd have to spend an enormous amount of money every year just so that cashback could reach the price of the card.
- smnrchrds 6y agoThat's because credit card interchange fees are much lower in France than they are in the US. Does the French government cap interchange fees? https://www.mastercard.co.uk/content/dam/mccom/en-gb/interchange/documents/France.pdf https://www.mastercard.co.uk/content/dam/mccom/en-gb/interch... https://www.mastercard.us/content/dam/public/mastercardcom/na/us/en/documents/merchant-rates-2019-2020-oct-2019.pdf https://www.mastercard.us/content/dam/public/mastercardcom/n...
- thomasmarcelis 6y agoThere is a cap set by the EU since 2015 https://www.adyen.com/blog/all-you-need-to-know-about-the-eu-interchange-cap https://www.adyen.com/blog/all-you-need-to-know-about-the-eu...
- smnrchrds 6y agoEverything makes sense now. 0.3% is an order of magnitude lower than the fees paid by US merchants.