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A comment on Apple pulls plug on Goldman credit-card partnership. Parent comment

Re:Apple pulls plug on Goldman credit-card partnership by sgerenser on Tuesday November 28, 2023 @06:56PM (#38453432)
The difference is not that high. In fact, my understanding is “Visa Signature” and “World Mastercard” (which are most of the premium credit cards) normally cost about the same as Amex. At worst it may be about 1% more not double.
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Re:Apple pulls plug on Goldman credit-card partnership by arcdigital on Tuesday November 28, 2023 @07:16PM (#38453594)
You're correct, take a look at my other comment for a breakdown.
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Re:Apple pulls plug on Goldman credit-card partnership by kuschku on Tuesday November 28, 2023 @07:07PM (#38453520)
Compared to european payment cards with their 0.125% total fees, Amex' 6-7% is a steep ask.
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Re:Apple pulls plug on Goldman credit-card partnership by ceejayoz on Tuesday November 28, 2023 @07:27PM (#38453706)
The highest Amex interchange rate is about 3%. https://www.creditdonkey.com/interchange-rates.html
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Re:Apple pulls plug on Goldman credit-card partnership by kuschku on Wednesday November 29, 2023 @04:30AM (#38457318)
Merchant rates from local payment processors are: 0.125% for Girocard, 1.39% for VISA/MasterCard, 6.2% for AMEX
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Re:Apple pulls plug on Goldman credit-card partnership by arcdigital on Tuesday November 28, 2023 @07:10PM (#38453549)
It's nowhere near 6-7%. See my other comment for more details.
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Re:Apple pulls plug on Goldman credit-card partnership by troupe on Tuesday November 28, 2023 @07:39PM (#38453842)
Payment cards that only have a 0.125% fee? Are you talking about a debit card or a payment / credit card?
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Re:Apple pulls plug on Goldman credit-card partnership by kuschku on Wednesday November 29, 2023 @04:31AM (#38457330)
"payment cards" includes debit cards, credit cards, and other types of cards that can be used for payments, such as the German girocard standard. There's no meaningful difference between these products if your locale has working consumer protection laws.

The payment processors I'd be looking at offer merchants rates of 0.125% for girocard, 1.39% for VISA/MasterCard, and 6.2% for AMEX.

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