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I'd argue that their cost scales to the price paid because credit card processors are taking on the liability for those transactions. Additionally, a 2% fee is
by ocdtrekkie 6y ago
I'd argue that their cost scales to the price paid because credit card processors are taking on the liability for those transactions.
Additionally, a 2% fee is nearly inconsequential. If Mastercard and Visa demanded 30%, there would be literal riots.
- dhdhhdd 6y agoAnd yet interchange rates in Europe are capped at around 0.2%. 2% is still a lot of money.
- ocdtrekkie 6y agoIt does stack up, but if the cost was too high, many businesses wouldn't work with the credit processors. Amex is an example of this. There's payment options that avoid this retailers could incentivize. And Apple and Google charge 15 times that because there's no way around them.