3 ms·

You are talking about fractions of a percent, for transactions where banks in aggregate take some risk, while Google and Apple keep their 30.000/100.000 ransom

• ztrww 3y ago
  Because it’s a relatively insignificant market? However it’s pretty remarkable that Apple only makes a few billion less than Visa from its AppStore despite of the processed amount being 100x+ lower. I guess the problem with the 30% is that it seemed like a very good deal for developers back in ~2010 compared to all other options.. but well it there is no incentive to lower it even more since there is no competition Then again Steam and GOG for instance can still take 30% despite operating on perfectly open platforms so they must provide some value.
• rjmunro 3y ago
  This is a bank to bank fee. The merchant's bank will charge the merchant a higher fee than this. The banks take no risk here because normally they any fraud get's paid by the merchant through charge back. The only risk is that the merchant goes away completely, but banks have to deal with that possibility all the time.
  • eru 3y ago
    The payout to the merchant is delayed, isn't it? So if they go away, they don't get paid anyway?
    • rjmunro 3y ago
      That's one of the ways merchant's banks mitigate the risk, yes. But you have 120 days to make a chargeback, and I think most banks don't delay the payment that long. I believe bigger merchants with better credit ratings can normally negotiate faster repayments.