Typical breakdown example for a 100 EUR in-store #Girocard transaction:

Customer pays: 100.00 EUR

Merchant bank account credited (net): ≈ 99.10 EUR

Acquirer/processor fee (including terminal service & scheme fees): ≈ 0.60–0.90 EUR

Issuer/interchange: ≈ 0.00–0.10 EUR
Scheme/network residue: ≈ 0.00–0.05 EUR
#bank #banks https://en.wikipedia.org/wiki/Girocard why #visa often does not work at #giro #terminals

#payment systems
Example: For 100 EUR card sale in a typical European card-present debit/consumer credit transaction:

Customer pays: 100.00 EUR

Merchant receives: ~96.5 EUR

Issuer (interchange): ~1.20–2.00 EUR

Acquirer & gateway combined: ~0.20–1.00 EUR

Card network ( #Visa assessment/fees): ~0.05–0.30 EUR

#bank #banks #visa is this correct? https://en.wikipedia.org/wiki/Visa_Inc.

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✅ No #Visa , no #Mastercard , no #Apple , no #Google , no overblown fees

👉🏼 Add your ⭐ to the project: https://github.com/openCryptoPay/landingPage

#payments #crypto #ZCHF #CHF #Spar #OpenSource

RE: https://aus.social/@mojo/116321714247825786

Så, när kommer Wero till Sverige?
Jag har två Visa/Mastercard-kort. Det ena som backup som jag tänkt säga upp länge, för jag använder det inte - detta är kanske tecknet.
Ett litet litet steg mot att bli mindre beroende av US tech

#wero #visa #mastercard #payments

RE: https://aus.social/@mojo/116321714247825786

Det her er viktig, og viser en av oppsidene ved EU.

«The deal instantly connects approximately 130 million users across 13 countries, covering roughly 72% of the EU and Norway population.»

#Norsktut #visa #mastercard #vipps

RE: https://fraxoweb.social/@frank/116313675716389429

#interac is canadian and low-fee

But compared to #visa and #mastercard

It provides absolutely no real benefits for everyday people and banks.

Except for e-transfers, only the merchants care about Interac for the lower fee.

The way I see it, unless Interac significantly improves in #canada,

Visa and MasterCard will remain superior because of their versatility, acceptance and actual benefits like cashback, insurance, etc.

In other words, Interac sucks. Why would anybody use it?

RE: https://fraxoweb.social/@frank/116313116551662695

When you use a Visa Debit card:

It uses #interac when you make physical purchases in #canada Most Canadian merchants accept Interac

But it uses #visa (or #mastercard) when you shop online, internationally or through an app

As of now, Interac doesn't work outside Canada and online/apps

Another thing to consider is the cut paid by the merchants

Interac takes a very small cut, pennies. So the money stays in Canada

Visa takes a much bigger cut. That money is split between your bank and Visa

I started using credit cards about 10 years ago.

Before that I was using #interac , the canadian banking network #canada

#visa and #mastercard give great benefits like cashback, insurance, etc. but they are US technologies.

Maybe it's time to go back to interac

Even if I wanted to, my banking cards are Interac Visa.

Meaning they do both, and I don't know which one is prioritised.