It’s a bit more complicated: Even in the US, it’s not Visa and Mastercard taking...

lxgr 3 months ago | parent | context | favorite | on: Visa, Mastercard $30B swipe fee settlement rejecte...

It’s a bit more complicated: Even in the US, it’s not Visa and Mastercard taking the entire 3.5%. The largest part of that goes to the issuers, who pay a significant fraction back to the cardholder as rewards.