Re:Square Could Pass Twitter in Value
by ForHackernews on Wednesday October 25, 2017 @04:21PM
(#15553817)
Yeah, I don't know how that fee is divided up between processor/payment network/bank, but it's a fair chunk of change, all told.
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Re:Square Could Pass Twitter in Value
by StudentStuff on Wednesday October 25, 2017 @04:43PM
(#15554087)
The lions share is going back to whoever issued you a credit card. If its say an airline card, that'd be rewards 2 which ranges from 1.65% + $0.10 per transaction all the way up to 2.7% + $0.10. Then you add on network & platform fees (0.1% + $0.06 per transaction) and whatever minuscule profit margin your ISO/MSP can get and your at 1.5% to 2% on average.
Visa Interchange Rates: https://usa.visa.com/dam/VCOM/global/support-legal/documents...
Re:Square Could Pass Twitter in Value
by ForHackernews on Wednesday October 25, 2017 @06:47PM
(#15554953)
Amex seems to charge between 2.3 and 3.5% [0]. There's no bank in the loop there.
[0] https://www.cardfellow.com/american-express-discount-rate/#P...
Re:Square Could Pass Twitter in Value
by StudentStuff on Friday October 27, 2017 @02:33AM
(#15566185)
Rarely will a business get the 2.3% rate, that is purely a temporary promotion for supermarkets that are new to American Express. Also, Amex acts as the bank, with the same rewards programs and incentives to retain customers.