Visa and Mastercard have surged over the past two decades, reaching a combined $1 trillion market cap. That has attracted unwanted attention from regulators.
Fwiw debit card transaction are capped around 21 cents per transaction depending on the size of the bank holding the account. You’re right for credit cards though. Also, imho, I’ve never seen merchants pass along these debit card savings to the consumer. With they would though.
Whether they directly pass the costs or indirectly, these are still costs made by the seller. In other words either the costs are passed on by the credit card customers or simply all customers. Somebody has to pay for the costs and in the end the seller has to make some profit to survive.
Fwiw debit card transaction are capped around 21 cents per transaction depending on the size of the bank holding the account. You’re right for credit cards though. Also, imho, I’ve never seen merchants pass along these debit card savings to the consumer. With they would though.
Whether they directly pass the costs or indirectly, these are still costs made by the seller. In other words either the costs are passed on by the credit card customers or simply all customers. Somebody has to pay for the costs and in the end the seller has to make some profit to survive.