3 ms·
> The card reader networks take a 3% cut and we’re all ok with that. EU busted that, so in EU it is illegal to take more than a 0.3% cut instead. Because after
by username90 6y ago
> The card reader networks take a 3% cut and we’re all ok with that.
EU busted that, so in EU it is illegal to take more than a 0.3% cut instead. Because after investigations that was roughly how much they need to be profitable. The 3% fee you see in USA is just 1000% markup.
Although I wouldn't be surprised if app store fees are found to be reasonable at about 3% level and EU enforcing that, just like they lowered credit card fees by a factor 10.