2 ms·
There is no way that Apple is paying 5% on credit card fees. Average fees paid by merchants are 1.3% to 3.5%[1]. You can bet Apple negotiates hard on that fee.
by nl 4y ago
There is no way that Apple is paying 5% on credit card fees. Average fees paid by merchants are 1.3% to 3.5%[1].
You can bet Apple negotiates hard on that fee. It wouldn't surprise me to learn they are paying 0.1%.
[1] https://www.fool.com/the-ascent/research/average-credit-card-processing-fees-costs-america/ https://www.fool.com/the-ascent/research/average-credit-card...
- chrischen 4y agoIf transactions are small, like 99 cents, transaction fees can exceed 29%.
- nl 4y agoAnd you think Apple can't negotiate that?
- Retric 4y agoNot much, Apple can negotiate with the payment processor but but the minimums are still quite high. https://usa.visa.com/content/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees.pdf https://usa.visa.com/content/dam/VCOM/download/merchants/vis...