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No, those are caps on the interchange fees paid to the issuing bank. Card transactions have other fees as well.
by throwaway473825 1mo ago
No, those are caps on the interchange fees paid to the issuing bank. Card transactions have other fees as well.
- zipy124 29d agoThat is true yes. The interchange fees tend to be the largest component though. The ECB reports that the average transaction cost of debit is 0.44% [1] [1]: https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.deprep241218_erpb_Fit_in_the_ecosystem_Competition.en.pdf https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse...