Visa and MasterCard have surged in the past two decades, reaching a combined $1 trillion market cap. That has attracted unwanted attention from regulators.
From the federal reserve directly : https://www.federalreserve.gov/aboutthefed/boardmeetings/frn-reg-ii-20231025.pdf
Also, I guess what I meant is, the cap used to be 45 cents, and when it was reduced to 21 cents, there wasn’t some massive reduction in prices of products for consumers. Merchants just pocket that difference.
From the federal reserve directly : https://www.federalreserve.gov/aboutthefed/boardmeetings/frn-reg-ii-20231025.pdf Also, I guess what I meant is, the cap used to be 45 cents, and when it was reduced to 21 cents, there wasn’t some massive reduction in prices of products for consumers. Merchants just pocket that difference.
Some liquor stores near me give a slight discount for cash or debit, and WinCo is cash or debit only to avoid these fees I’m sure.