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Paypal still charges a 7-fold of that in Europe. Is the european regulation not binding? Or is Paypal somehow evading compliance as they are an 'online' creditc
by memen 4y ago
Paypal still charges a 7-fold of that in Europe. Is the european regulation not binding? Or is Paypal somehow evading compliance as they are an 'online' creditcard provider?
- mschuster91 4y agoPayPal is not a credit card provider, they are a weird hybrid of a bank and a payment gateway and as such not covered by the regulations on interchange fees.
- MinorTom 4y agoIn addition to mschuster91's point, you should know that the cap only applies to four party scheme card transaction interchange, not to scheme fees nor to your acquirer's fees. In reality you will pay somewhere between 0.9% and 2% for your transactions, whereas local schemes can be as cheap as 0.2% or even pennies. Compared to the US's 1.15%~2.7% +10ct interchange (not including other fees!) it's still quite cheap.
- mschuster91 4y agoAdd on top the "cashback" and "reward" schemes that many American CCs offer. These are paid for by the vendor.
- happymellon 4y agoThey charge a flat 1.75% of total processing amounts per day. They don't charge a rent on top. https://www.zettle.com/gb/pricing https://www.zettle.com/gb/pricing