Re:Tech companies are clamoring to give you credit cards
by lollolintercha on Monday October 26, 2020 @02:10PM
(#24899171)
Ha. Other fees nearly always take this above 1%, often closer to 5% and as far as 20% only sub dollar transactions. Other fees are your scheme fees of which there are many, avs fees, and your acquirer fee (the people who take the chargeback risk - e.g. adyen 0.65%)
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Re:Tech companies are clamoring to give you credit cards
by AnssiH on Monday October 26, 2020 @02:36PM
(#24899515)
That may be true for ecommerce.
But for physical card-present EMV transactions the rates are typically under 1% in Finland, see comparison: http://www.maksupaatevertailu.fi/ (in Finnish)
Nets is the most common physical merchant services provider here, I believe, which has 0.41% for Visa/MC debit and 0.91% for Visa/MC credit (though there are surcharges for foreign cards etc.).
Re:Tech companies are clamoring to give you credit cards
by lollolintercha on Monday October 26, 2020 @05:54PM
(#24901952)
Valid point, I refer to card not present tranx, but are you sure the 0.41% is when via the mc/visa network though (even if we accept an interchange of 0.2x), many of these cards in europe have an alternative national pay network for local cards - you will actually see the choice on some POS screens too. And asia too - TPN dual branded with err can't remember that name of the Chinese pay network that has failed to infect se Asia now, ah unionpay
Re:Tech companies are clamoring to give you credit cards
by AnssiH on Tuesday October 27, 2020 @07:44AM
(#24906471)
Yes, AFAIK there is no local payment network in Finland (unless it is completely hidden from users and merchants somehow), and Finnish cards are definitely not co-branded.
The Nets rate for non-Finnish in-EU debit cards is 0.51% and for non-EU debit cards it is 1.71%, and +0.80% for corporate cards (all 2017 rates and for Visa/MC only).