Earlier quoted context omitted.
Yeah, it's sad to see. There's now no economic reason for these fees to remain so high. I worked at a payment processor.
Exactly! Credit Card fees are supposedly set according to risk. However, the way the networks are setup is a legacy from last century. The way I always think of it is like this: You would NEVER accept to pay to send an email per number of the words in that email, at the end of the day it is just transferring bytes. However the payments industry has been working like that for too long, why does the cost of sending som…
Aren't the fees about covering the transacted amount rather than simply enabling the transaction?