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Comment by maelito | Hacker News Reader

Well I don't really know what they do, but what I know is that Visa transactions costs are 0,22 € out of a payment of 1 €, Mastercard's is 0,23 €, and the French CB network is 0,17 €.

All of them do the same : ensure I get the money from the customer. Of course it's a larger project to run this in the whole world, but shouldn't it scale to less along with the number of billions of customers instead of the other way round ?

This is an insane amount of money. They killed micro-transactions, they killed the business model of the Web in favor of ads, the only popular way to do microtransactions right now.

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USA is currently trying to bully Brazil who introduced their own PIX system.

I think USA has been behind the visa and Mastercard dominance as it gives them nearly every financial transaction globally and their intelligence has that data in realtime.

Not to mention the tax take and ensuring max use of US dollar as reserve currency

> killed the business model of the Web in favor of ads

I don't think there ever was another business model? Nobody has ever got true microtransactions for the web to work.

Even the old days of premium rate telephone numbers and paying for ringtones weren't particularly "micro".

> the French CB network is 0,17 €.

No, that's not right. The CB interchange fees are 0.2% + 0.0011€ network fee.

Therefore for 1€ : 0.002 + 0.0011 = 0.0031€, not 0.23€

So you have 0.2269€ of fees coming out of left field, with someone else making a massive profit.

They charge you 23%?

I thought in the EU the maximum interchange fee for consumer credit cards is capped at 0.3% of the transaction value.

Plus fixed fees.

I don't want to put responsability on anyone, I don't know who takes what in the chain, but I see the fees in practice.

I took the cheapest PSP I could find in Europe... Stripe is way more expensive, taking 25 cents of fixed fee !

Which PSP did you choose finally?

https://stancer.com.

Simple Rest API, with Redoc https://docs.stancer.com/api/redoc.html.

Look into sumup.

I think they may be confusing what payment terminal providers charge with what VISA/Mastercard does.

Seems like you're getting scammed. Sumup for example charges 1,75 % per transaction, no other costs, not even a monthly fee. With a monthly fee the transaction cost drops to just 0.89%.

> Visa transactions costs are 0,22 € out of a payment of 1 €, Mastercard's is 0,23 €, and the French CB network is 0,17 €.

Are you sure of these values? Because that's different from what I was told, which was that CB was cheaper for transactions of more than 10 €, because their fees were fixed, not rates like Visa and Mastercard.

From what I've just read (not counting the possible extra tax by the bank of the seller):

CB: 0.20% + 0.00117 € ⇒ 0.00317 € for 1 €, 0.20117 for 100 €

Visa: 0.20% + (0.01% to 0.014%) ⇒ up to 0.00214 € for 1 €, 0.214 € for 100 €

Mastercard: 0.20% + (0.15 to 0.17%)

The 0.20% is for the "interchange" described in the article. So it applies only when the seller and the buyer do not have the same bank. The maximal rate is fixed by the UE, and AFAIK everyone use the max value.

> Are you sure of these values?

Yes perfectly sure, just checked. I'm not saying these are visa fees vs CB fees. Lots of actors in the chain. But that's what I'm paying for each card type.

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