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Amazon takes swipe at PayPal, Square with card reader for mobes

leon clarke

It probably needs to pay most of those fees on to visa/mastercard, who will then pass them on to the issuer banks. The banks get so much money from card merchant fees that they feel generous enough to give people 1% cashback, and an interest free month.

(Creating a form of payment which didn't inherently cost so much would be a good thing, but that's a Separate Issue)

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