You are in Australia, as I recall, where there are legal limits on the merchant fees. In the US it is much more of a free for all. It also depends on the deal that the merchant is able to negotiate with their selected payment processor. For a Visa Infinite card it can approach 3% I have heard.
This leads to a separate question, but when a customer swipes a card, how many fees are involved? I imagine at the bare minimum, Chase (the issuer for example), Visa, and the merchant's payment processor are all getting a fee. Does the merchant need to negotiate 3 separate fees?
Wilbur
Sep 24, 2024 8:15 am
Originally Posted by joshwex90
(Post 36538894)
This leads to a separate question, but when a customer swipes a card, how many fees are involved? I imagine at the bare minimum, Chase (the issuer for example), Visa, and the merchant's payment processor are all getting a fee. Does the merchant need to negotiate 3 separate fees?
It less that the merchant, such as Essence Bakery, negotiates the fees, than the many, slightly-differently calculated fees are imposed upon the merchant in their bill from the processor.
