alt Hacker News> Fundamentally 1-3% is actually a very competitive rate for organizing the easy transfer of money and handling fraud
This is a very US-centric take. In the UK, EU and Australia, interchange rates are capped at more like 0.2/0.3%.
> Fundamentally 1-3% is actually a very competitive rate for organizing the easy transfer of money and handling fraud
This is a very US-centric take. In the UK, EU and Australia, interchange rates are capped at more like 0.2/0.3%.
That actually proves the point, because a market left to itself arrives at 2-3%, and it only goes lower if the government is dictating a rate.