Originally Posted by ozstamps
Any merchant on high average ticket prices like Qantas is paying WELL under 1% for their Bankcard/visa/MC transactions - trust me.
This increase is pure profit - nothing less.
My own rate is about 1.5% but anyone with a hardware store - even indies, are on .92% right now including GST.
Not necessarily as I was posting in another forum about this change.
Many businesses are subject to a 'high risk' assessment from financial institutions. Be in this, and they slug you huge percentage rates. I know small/mid sized businesses paying under 1.0% for around 100-200k turnover a year with average per-swipe cost of around $80. Tell them you're an online shop, and that'll rocket to 8-9% even if you are doing large turnover. Until you can prove to them the risk of fraud or the like is minimal, you'll have to suffer.
Aviation may be a mid-risk industry, due to the fact unscrupulous people could steal CC details, book a flight and be gone before anyone can follow it up, a "flight risk" if you'll pardon the pun
Regardless, I'm sure Qantas are as you say, paying less. Just adding my 2.2c worth.
Drew