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A comment on How I discovered the underground world of credit card network exploitation. Parent comment

Re:How I discovered the underground world of credit card net... by carlosjobim on Wednesday August 02, 2023 @03:29PM (#36975911)
> The EU caps it at 0.3% maximum

That's completely untrue. Most European businesses pay much more than that.

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Re:How I discovered the underground world of credit card net... by pas on Wednesday August 02, 2023 @05:30PM (#36977845)
You're mixing up total cost of processing the card (which is what Stripe and other gateways charge) with the Visa/MC rent.

https://ec.europa.eu/commission/presscorner/detail/fr/MEMO_1...

"Therefore, the Regulation caps interchange fees for consumer debit cards to 0.2 % and consumer credit cards to 0.3 % of the value of the transaction."

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Re:How I discovered the underground world of credit card net... by lxgr on Thursday August 03, 2023 @04:52AM (#36983156)
The (now called) interchange fees go to the card issuing banks, not the card networks. Both network/scheme fees and processor fees come on top of that.
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