Visa/Mastercard take like 1 or 2%. That's why they cannot compare to Apple...
Visa/MasterCard take like 0.3% the rest of the interchange fee goes to the issuing and acquiring banks.
Readit Newsblasphemers commented on Apple to soon take up to 30% cut from all Patreon creators in iOS app macrumors.com/2026/01/28/... · Posted by u/pier25
blasphemers commented on Response to "Ruby Is Not a Serious Programming Language" robbyonrails.com/articles... · Posted by u/robbyrussell
I wish there would be a language like Ruby but strong type or statically typed.
I like its rich standard library style and encapsulation style (e.g. .map with lambda).
I've moved to Scala purely because Ruby is not typed. In a large codebase, it becomes really difficult to refactor. Even renaming stuff is convoluted.
Ruby is strongly typed
blasphemers commented on Ruby is not a serious programming language wired.com/story/ruby-is-n... · Posted by u/mikece
I feel like there used to be a time when wired magazine was worth reading, but I can't even remember when that was at this point.
blasphemers commented on GitHub: Git operation failures githubstatus.com/incident... · Posted by u/wilhelmklopp
MSFT intentionally degrading operations to get everyone to move onto Azure… oh, wait, they just moved GitHub there, carry on my wayward son!
GitHub hasn't been moved onto azure yet, they just announced it's their goal to move over in 2026
Oh ok so you can’t pay with money you don’t have. I wish that cost wasn’t socialized.
Is the cost of a dining room socialized if a restaurant does take out? It's a business cost that was from it's inception sold as a way to increase potential customer base and reduce risk, which is still a valid and correct way of looking at it considering bounced checks don't get paid out to merchants and cash gets skimmed.
> 2.5% is not that much when it means you can sell to people without worrying about if they can pay for it.
Is that not how these other payment providers work? Would they let a transaction through that won’t be settled afterward?
What payment provider is allowing payments without accessing the customers current funds? With a CC, you can charge $1000 with only $100 in your bank account. That is not something you can do with ACH, check, cash, etc. Pay Now Pay Later providers like Affirm would also allow this, but I'm not sure what that looks like from a merchant POV
Visa's merchant fee for in-person transactions is only 0.3% in Europe, with the exact same robustness and operational guarantees you describe.
Visa's fee in the US is also only 0.3%. Most of the interchange fee goes to the issuing bank and is used for cardholder rewards/benefits.
Well, it used to be justified but if they are lowering their rates it's in part because they are starting to get replaced by regional wallets.
Personally I think it's fantastic they are losing ground because it really rubs me the wrong way when they force their morals [1] [2].
[1] https://www.theverge.com/2021/8/19/22632797/onlyfans-prohibi...
[2] https://www.theguardian.com/world/2025/jul/29/mastercard-vis...
Except the networks are not forcing their morals onto anyone, they are not payment processors.
> Under terms being discussed, Visa and Mastercard would lower credit-card interchange fees, which are often between 2% and 2.5%, by an average of around a tenth of a percentage point over several years, the people said
Meanwhile interchange fees in places like EU and Australia are more like 0.3%
The Visa/Mastercard duopoly really needs to be broken up somehow.
I live in Asia where there is a cambrian explosion of QR-code based payment methods. At many shops you'll see a list of accepted payment methods like this[0], indicating a healthy amount of competition in payments.
[0] https://corporate.fithouse.co.jp/wp/wp-content/uploads/2021/...
Visa/MasterCard are essentially a network of banks, they only get a small percentage of the interchange rate. Most of it goes to the issuing bank which they use for rewards.
This line of thinking also ignores an important aspect of credit cards that benefit the merchant. 2-2.5% is not that much when it means you can sell to people without worrying about if they can pay for it. When that customer ultimately doesn't pay their CC bill(look at how high CC debt is), the issuing bank still needs to pay the merchant.
What power do they have too much of?
Besides a complete stranglehold on labor markets in a number of industries where the government is required to use union labor for infrastructure projects and they limit the number of laborers to drive up price. Or how about the Plumbers union that forced the city of Chicago to continue installing lead pipes until the federal government had to force them to stop. Beyond that, the power to promote good workers or make necessary changes across the org. For example, why doesn't Chicago have any driver-less trains and a conductor shortage? The unions are preventing both.