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> that can dictate prices Prices that are capped by the government: The Fed’s 2011 rules capped fees at 21 cents plus five basis points of each transaction, a
by mbesto 4y ago
> that can dictate prices
Prices that are capped by the government:
The Fed’s 2011 rules capped fees at 21 cents plus five basis points of each transaction, and also allowed an additional one cent fee per transaction for fraud prevention, where applicable.[0]
[0] - https://news.bloomberglaw.com/antitrust/biden-takes-on-visa-mastercard-over-debit-card-fees-explained https://news.bloomberglaw.com/antitrust/biden-takes-on-visa-...
- treis 4y agoThat's for debit cards only. Which Visa/MC have knee capped with their monopoly power so it doesn't really matter. Actually helps as a distraction
- mtmail 4y agoAlso capped in Europe https://www.adyen.com/en_GB/blog/all-you-need-to-know-about-the-eu-interchange-cap https://www.adyen.com/en_GB/blog/all-you-need-to-know-about-... (credit and debit). But I see that as acknowledgement the companies are too large and duopoly.