Egypt prepares to start move to new capital, away from the chaos of Cairo

Re:Egypt prepares to start move to new capital, away from th... by maya24 on Friday March 19, 2021 @06:29PM (#26518784)

A majority of credit card fees goes to the issuing bank. Like a huge percentage of it. Visa and credit card processors take a much smaller percentage relative to the banks.

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Re:Egypt prepares to start move to new capital, away from th... by rrrrrrrrrrrryan on Friday March 19, 2021 @06:41PM (#26518883)

Yes - the banks then hand a substantial portion of these fees back to the customer via credit card rewards.

We have a bizarre system where retailers mark everything up an extra 2%, to give their more well-off customers (that pay with decent credit cards) an effective 2% discount and the ability to dispute charges.

I think retailers would love a new system with less transaction fees, but banks definitely would not, and some customers may not either if it means sacrificing their credit card rewards and perks.

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Re:Egypt prepares to start move to new capital, away from th... by oliv__ on Friday March 19, 2021 @10:47PM (#26520376)

Come on now, everybody's got a 2% cashback card

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Re:Egypt prepares to start move to new capital, away from th... by macromagnon on Friday March 19, 2021 @11:12PM (#26520521)

Some even have 3-4, all maxed out.

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