Each time the money exchanges hands for goods or services the card compies take their fee. So I pay you 100. You receive 98.5. You spend that 98.5 to buy something from me and I receive 97.02.
If we did the exchange in cash we would retain the full amount.
Each time the money exchanges hands for goods or services the card compies take their fee. So I pay you 100. You receive 98.5. You spend that 98.5 to buy something from me and I receive 97.02.
If we did the exchange in cash we would retain the full amount.