Re:A lot of people are getting the OnlyFans story wrong
by hocuspocus on Friday August 20, 2021 @12:41PM
(#28248105)
The interchange goes to the card issuer, not to the scheme. Visa and MasterCard fees are the smallest part of the overall fee charged by the payment processor. (That said it might be higher in the US, I don't know).
Re:A lot of people are getting the OnlyFans story wrong
by Scoundreller on Friday August 20, 2021 @01:33PM
(#28248890)
A lot of the incentive to pay by card evaporates if the vendor pushes the fee to the customer.
The incentive to issue cards evaporates when there’s less fee to collect.
Both would be bad upstream for visa/Mc/Amex.
The US doesn’t need to fine or litigate them if they want to penalize them heavily, they can just pass a “consumer protection bill” (so Walmart and others can pay <1% instead of ~2% on all credit card payments).