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This article is pretty light on details. What exactly are the new fees? In what situations do they apply? Is there some specific reason why Visa & Mastercard ar
by dgrin91 3y ago
This article is pretty light on details. What exactly are the new fees? In what situations do they apply? Is there some specific reason why Visa & Mastercard are doing this at almost the same time (beyond regular greed)?
- wredue 3y agoThe new fees are “We are publicly traded companies and are failing to meet growth demands, and so are raising prices, because as we all know, not infinitely growing means you’re a failure of a company”
- cpncrunch 3y agoSome details here: https://www.moneris.com/en/support/additional-resources/payment-card-network-fee-updates https://www.moneris.com/en/support/additional-resources/paym... Premium card fees up from 1.8% to 1.85% and super-premium up from 1.97% to 1.98%. Bloomberg claims that Mastercard is introducing a pre-authorization fee: https://archive.ph/sFo82 https://archive.ph/sFo82 However, you can see in the Moneris page that Mastercard actually introduced that pre-auth fee back in Nov 2019, and it is 0.05% or $0.01. So, seems to be pretty much a clickbait nothing-burger.