Wonder what MasterCard’s strategy is? Could be an opportunity to gain some market share.
Didn’t the EU recently cap interchange fees? Or is this a different type of fee?
It’s the transaction fees levied at the retailers.
I thought it the interchange fee was the part of the transaction fee that came from Visa/Mastercard, and the rest of the transaction fee was from the acquiring bank, independent of the card network? If that’s not the case, what was the point in capping interchange fees?
Sorry, clearly I have no idea what I’m talking about here
Visa has for a while been more expensive that mastercard, that is why so many UK banks have been switching over.
Mastercards interchange fee is also lower than Visa which gives it a competitive edge. Although I can’t see any bank offering visa in a year or so. Not really sure Visa care, its not actually trying in the UK, mastercard is the one sponsoring big competitions and sporting events for the most part.
Sounds like the fees have been rocketing since Visa Europe was acquired by Visa Inc, the US arm of Visa.