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A comment on Visa, Mastercard Agree to Lower Swipe Fees, Settling Long-Running Lawsuit. Parent comment
Not at all. Credit cards also earn the card issuer significant revenue via interchange fees: up to 3.5% of every purchase you make on the card.
With credit card transactions of ~$5T annually in the U.S., those fees are huge.
(In Europe, interchange fees are regulated and capped. But there are no such caps in the US, hence this lawsuit…)
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Not at all. Credit cards also earn the card issuer significant revenue via interchange fees: up to 3.5% of every purchase you make on the card.
With credit card transactions of ~$5T annually in the U.S., those fees are huge.
(In Europe, interchange fees are regulated and capped. But there are no such caps in the US, hence this lawsuit…)