Re:Visa, Mastercard mull increasing fees for processing tran...
by CardFellow on Friday February 15, 2019 @04:59PM
(#19175101)
Visa / MC rates aren't 2.5%.
There are multiple components to the final rate that a business pays, with the bulk of it being interchange, which goes to the banks that issue cards. Visa/MC only get assessments and dues, which are significantly smaller. (Visa's volume assessment is 0.13%, for example.)
We need to know which fees they're raising, and by how much, to know what sort of impact this will have.
There are multiple components to the final rate that a business pays, with the bulk of it being interchange, which goes to the banks that issue cards. Visa/MC only get assessments and dues, which are significantly smaller. (Visa's volume assessment is 0.13%, for example.)
We need to know which fees they're raising, and by how much, to know what sort of impact this will have.