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Aren't debit transactions capped at 0.2% in the EU and credit 0.3%?
by zipy124 2mo ago
Aren't debit transactions capped at 0.2% in the EU and credit 0.3%?
- KellyCriterion 2mo agoin the EU, yes, but not in India with UPI ;-)
- throwaway473825 2mo agoNo, those are caps on the interchange fees paid to the issuing bank. Card transactions have other fees as well.
- zipy124 2mo agoThat is true yes. The interchange fees tend to be the largest component though. The ECB reports that the average transaction cost of debit is 0.44% [1] [1]: https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.deprep241218_erpb_Fit_in_the_ecosystem_Competition.en.pdf https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse...