The EU strictly limits the interchange fees that card networks and banks can charge. So it’s not possible to offer valuable (and profitable)reward programs in t

The EU strictly limits the interchange fees that card networks and banks can charge. So it’s not possible to offer valuable (and profitable)reward programs in the EU, because banks simply can’t earn enough money on transactions fees to provide those rewards. In the US, interchange is up to 10x higher than the EU. And interchange + reward programs act as a form of regressive tax where people with low credit scores have to pay the full cost of those high interchange fees. Whereas high value customers with good credit scores (who are normally the most wealthy in society) get a rebate on those interchange fees in the form of rewards.