Originally Posted by
WineCountryUA
Merchant fees are higher than 2%, even for major retailers. Serious doubt UA gets anyway near 1%, even 0.5% is probably on the high side.
So while Merchant fees are higher than 2% for most retailers, the entire 2% does not go to Chase (even if the Merchant is using Chase as the processor). So using Chase as an example, when a Chase card is swiped Chase gets a fee, Visa gets a fee, then the Merchant's processor gets a cut (the largest are Worldpay and First Data, Chase also does Merchant processing). So for large retailers I doubt Chase is getting anywhere near 2% of the transaction volume.