Acquired
Visa
Ben Gilbert
It is obviously different whether we're talking debit, smaller merchants, but large merchant, U.S. credit card. The merchant is charged a 2% discount off the sale price. So it was $100 pair of shoes. You're now making $98. And what happens to that 2%? So that 2%, the lion's share of it is the interchange, the 1.6%. That goes to the bank that issued the card.
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