They're being too greedy. Cut out the middle man and give most of the benefit to the consumer. 3% cash back or better, and you'll sizable sign up. No prof

They're being too greedy. Cut out the middle man and give most of the benefit to the consumer. 3% cash back or better, and you'll sizable sign up. No profit now, but now you've got control of the situation, which is huge, and gives you more opportunities for the future. You've also got leverage for your negotiations with the merchant card banks.