7 ms·

But doesn't that have way more to do with (EU) regulation? I thought that they take quite a significant chunk in the US

justinclift 2y ago
That a bit unclear. Are you meaning Visa/Mastercard charge less in the EU due to EU regulations? If that's what you're meaning, then I simply don't know as I've not heard that before. :)
- nottorp 2y ago
  Someone in the food chain does take less in some EU countries. Not all. The commissions are capped by law in some parts, but not others. As a small sample, in RO i think a large store chain pays like 0.5%. The consequence is credit card reward programs are either non existent or something like 0.1% cashback. The other consequence is you can pay by card almost anywhere. On the other hand I've been to NL and small stores simply did not take Visa/MC because it was too expensive for them. Guessing the visa/mc charges weren't capped there.
  - com 2y ago
    They’re all covered by identical regulations. Culturally, though, small retailers may still believe that credit card fees are higher than they actually are. They may be concerned about refund and chargeback processes. Or, their gateway either cannot offer credit cards on their POS terminals for technical or compliance reasons, or the retailer simply hasn’t enabled the payment methods. It’s not regulation in NL that blocks small retailers from taking V or MC.
    - nottorp 2y ago
      High fees is what they told me :) But then I was that weird tourist with a Visa and a MC...
  - ccozan 2y ago
    Not sure if you actually been to RO but every small shop has 3-4 payment terminals, each bank branded, and based on the card they use a different terminal thus ensuring minimal charge or even 0. In DE or NL, you operate via an intermediary ( like payone, etc ) and a single terminal. Maybe here comes the difference. PS. Larger shops/markets ( like kaufland, carrefour, etc ) have also just one, but I guess they negociate the fee.
    - nottorp 2y ago
      > Not sure if you actually been to RO No, I was born and live there. My groceries kiosk has just the single terminal. Where I shop, only Dedeman, Altex and the eMag showroom still ask me what bank is the card from, and they're nowhere near small... Edit: Hmm. Cozy? Small world...
      - ccozan 2y ago
        ha, Torp! Nice! But yes, is a mix/jungle of options. But I find fascinating that paying with cards has a far more adoption than some places in western world.
        nottorp 2y ago
        They made it compulsory by law to accept cards for B2C if you sold more than like 15k eur/month. But I think you were already in DE. I think that law also cames with caps on card charges. Or at least there was so much competition between banks for the new market that purchase charges dropped on their own.
ffgjgf1 2y ago
Not really. They still take “only” up to 1-2% in the US

That a bit unclear. Are you meaning Visa/Mastercard charge less in the EU due to EU regulations? If that's what you're meaning, then I simply don't know as I've not heard that before. :)

nottorp 2y ago
Someone in the food chain does take less in some EU countries. Not all. The commissions are capped by law in some parts, but not others. As a small sample, in RO i think a large store chain pays like 0.5%. The consequence is credit card reward programs are either non existent or something like 0.1% cashback. The other consequence is you can pay by card almost anywhere. On the other hand I've been to NL and small stores simply did not take Visa/MC because it was too expensive for them. Guessing the visa/mc charges weren't capped there.
- com 2y ago
  They’re all covered by identical regulations. Culturally, though, small retailers may still believe that credit card fees are higher than they actually are. They may be concerned about refund and chargeback processes. Or, their gateway either cannot offer credit cards on their POS terminals for technical or compliance reasons, or the retailer simply hasn’t enabled the payment methods. It’s not regulation in NL that blocks small retailers from taking V or MC.
  - nottorp 2y ago
    High fees is what they told me :) But then I was that weird tourist with a Visa and a MC...
- ccozan 2y ago
  Not sure if you actually been to RO but every small shop has 3-4 payment terminals, each bank branded, and based on the card they use a different terminal thus ensuring minimal charge or even 0. In DE or NL, you operate via an intermediary ( like payone, etc ) and a single terminal. Maybe here comes the difference. PS. Larger shops/markets ( like kaufland, carrefour, etc ) have also just one, but I guess they negociate the fee.
  - nottorp 2y ago
    > Not sure if you actually been to RO No, I was born and live there. My groceries kiosk has just the single terminal. Where I shop, only Dedeman, Altex and the eMag showroom still ask me what bank is the card from, and they're nowhere near small... Edit: Hmm. Cozy? Small world...
    - ccozan 2y ago
      ha, Torp! Nice! But yes, is a mix/jungle of options. But I find fascinating that paying with cards has a far more adoption than some places in western world.
      - nottorp 2y ago
        They made it compulsory by law to accept cards for B2C if you sold more than like 15k eur/month. But I think you were already in DE. I think that law also cames with caps on card charges. Or at least there was so much competition between banks for the new market that purchase charges dropped on their own.

ffgjgf1 2y ago

Not really. They still take “only” up to 1-2% in the US