Re:Can the Visa-Mastercard duopoly be broken?
by arcticbull on Wednesday August 17, 2022 @06:32PM
(#32502587)
They’re not. The 3% is a blended average. The rate varies by the specific card kind, the card brand, the specific vendor in Apples case when they have leverage - or the merchant category code when they don’t have leverage. Even chargeback history matters.
Apple likely has a deal that borderline costs merchant acquirers money and that gift card vendor is probably paying 10%.
Apple likely has a deal that borderline costs merchant acquirers money and that gift card vendor is probably paying 10%.