Originally Posted by
tmiw
Looks like it's about what I suspected: three party networks
are exempt. From
this:
That said, you'd think AmEx would want to be at least remotely in the same ballpark as Visa/MC for competitive reasons.
One thing I don't understand. In a 4 party network, for the net interchange fees, I'm pretty sure the bank is paying VISA or MASTERCARD a fee and the sum of those fees is probably higher than the AMEX fee. How come the merchants don't feel that fee in their cost then? Is the bank just eating it somehow?