A change to India’s payments law means merchants could be charged a fee for certain real-time payments. Businesses and experts tell CNA that even modest fees could squeeze profits.
It isn’t until the very end of the article that they even bother to discuss the obvious approach to the fee on transactions – a flat rate fee. Like I know some of the flat rate fees in Canada are around $0.04 per transaction – no matter the dollar value of the transaction. Which is a huge profit margin, really, for banks – cause they’ll charge people like $3 if you’re not their customer at an ATM, even though your withdrawal only costs them $0.04-$0.10 in network fees.
It isn’t until the very end of the article that they even bother to discuss the obvious approach to the fee on transactions – a flat rate fee. Like I know some of the flat rate fees in Canada are around $0.04 per transaction – no matter the dollar value of the transaction. Which is a huge profit margin, really, for banks – cause they’ll charge people like $3 if you’re not their customer at an ATM, even though your withdrawal only costs them $0.04-$0.10 in network fees.