No, the banks take a cut. The interchange fee that goes to the networks (VISA & MC) is very low (don't know the exact amount).
AMEX is another beast. AMEX is not sold through banks and AMEX can therefore set their own very high rates. This has caused many retailers to stop accepting AMEX altogether. IKEA being a good example of such a retailer.
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No, the banks take a cut. The interchange fee that goes to the networks (VISA & MC) is very low (don't know the exact amount).
AMEX is another beast. AMEX is not sold through banks and AMEX can therefore set their own very high rates. This has caused many retailers to stop accepting AMEX altogether. IKEA being a good example of such a retailer.