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I presume you quoted a part of the end-to-end fees. A random link[1] suggests about 3% effective rate for USA. I think in EU fees are legislatively capped at 2% or so.

> In general, merchant processors will likely offer you an effective rate somewhere between 2.9% to 3.3%. You can try to negotiate that down, especially if you have high sales volume.

[1] https://fitsmallbusiness.com/credit-card-processing-fees-2/

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Yes, effective processing fees are consistently around 2.9%. The previous comment was basically saying, "hey! whaddya expect! credit card companies do it, so why not!?"

My point is that, actually, no, they don't really. The visa+MC per transaction fees are actually quite low, unless I'm reading that wrong.

Again, this is a complete sidebar to the actual point, which is that banks are just rent-seeking because they can on these loans.

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