It’s not a question of them not making fees. No one is proposing that Visa and Mastercard can’t charge merchants. The EU caps merchant fees and Visa and MC ar

It’s not a question of them not making fees. No one is proposing that Visa and Mastercard can’t charge merchants. The EU caps merchant fees and Visa and MC are still widely accepted. I know in the UK at least interest charges are much higher since the banks make less in fees - yes part of the transaction fee goes to the bank.