3 ms·
...and this is why it's mostly a good thing that the fee %'s are capped in the EU
by skyeto 3y ago
...and this is why it's mostly a good thing that the fee %'s are capped in the EU
- w3ll_w3ll_w3ll 3y agoActually just a specific fee is capped in EU, the interchange fee. "Interchange is a small fee typically paid by acquirers (retailer’s bank) to issuers (cardholder's bank), to recognise the value delivered to retailers, governments and consumers by accepting electronic payments." The interchange fee does not go to Visa or Mastercard, do I think they are free to increase any other fee (if they are not colluding in a cartel ;) BTW This is the reason that in EU credit cards gives no rewards or very small ones. Rewards are, for the most part, coming out of the interchange fee. https://www.mastercard.com/europe/en/regulatory/european-interchange.html https://www.mastercard.com/europe/en/regulatory/european-int...
- skyeto 3y agoAh, forgot that this is talking about assessment fees! :)