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The transactions are of higher value than many public transport tickets, and those are already common — either as normal purchases from a ticket machine, or wit
by Symbiote 3y ago
The transactions are of higher value than many public transport tickets, and those are already common — either as normal purchases from a ticket machine, or with the special transaction type used when the payment card is touched to the reader on the ticket barrier.
Following a recent trip I had a bunch of ~1€ transactions from buying single bus/metro tickets from machines.
- matthewdgreen 3y agoVisa charges a 5-10 cent fixed fee plus a percentage for those 1 Euro transactions. Presumably public transport just eats those costs, but in a commodity business like electricity I imagine it’s a noticeable chunk of the profit margin.
- ffgjgf1 3y ago1 cent fixed fee + percentage seems to be the standard where I am. It might be difficult in other EU countries but IIRC the fixed fee is capped at 5cents.
- Symbiote 3y agoThe only public information I can find is this, which is from 2013 in London: Visa credit 0.65%, debit 1 pence. Mastercard credit 0.80%, debit 1 pence + 0.5%. https://www.whatdotheyknow.com/request/costs_to_tfl_for_contactless_pay https://www.whatdotheyknow.com/request/costs_to_tfl_for_cont...
- ffgjgf1 3y ago> of ~1€ transactions In Europe, sure because the fees are capped. In the US you pay a fixed fee + x% which makes small transactions like this prohibitively expensive