Note that the 0.3% cap is on the interchange, i.e. the fee that goes back to the card issuer, it doesn't affect Visa and Mastercard directly. PSPs in the EU/EE

Note that the 0.3% cap is on the interchange, i.e. the fee that goes back to the card issuer, it doesn't affect Visa and Mastercard directly. PSPs in the EU/EEA charge around 1% overall, a bit more to small businesses (for instance SumUp), and a bit less to the really big retailers that have more bargaining power.