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by alright2565
877 days ago
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Seems right. https://www.federalreserve.gov/paymentsystems/regii-average-... Many consumers prefer durbin-exempt cards since they have more favorable terms. Average fee on durbin-exempt cards is 1.41%, and they are 38% of transactions. Average fee on covered cards is 0.45%, and they are 62% of transactions. Seems reasonable to me that Wise wants to make a profit on every single transaction. Probably would have issues with abuse from 1% debit cashback cards otherwise. |
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