[AussieWog93]

That article is about businesses charging excessive surcharges to customers (e.g. Jetstar back in the day charging 5% extra for Visa/MasterCard, when it only cost them 0.7%).

There are no laws against high processing fees; Afterpay takes around 8% for example.

[closewith]

There is in the EU, at least:

> Specifically, the regulation:

> * caps interchange fees at 0.2% of the transaction value for consumer debit cards and at 0.3% for consumer credit cards;

From https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-...

No cap on corporate cards, though.

[shakna]

There are, and both Visa [0] and MasterCard [1] have both recently been in trouble for it. Instead of it being a specific maximum, however, it must be "reasonable" and allow for competition. The network also chooses the cheapest routing, by default.

[0] https://www.accc.gov.au/media-release/visa-undertakes-to-add...

[1] https://www.accc.gov.au/media-release/mastercard-in-court-fo...

[DanHulton]

That, too, could be solved with 1 piece of legislation.