lgn1 - 3:01 am on Jan 25, 2012 (gmt 0)
Of that 2%, 1.6% is the visa interchange fee, which goes directly to all the behind the scene players, such as the card issuing bank,Visa to fund there operation,etc,etc So the payment processor only gets 0.4 percent. On high volume merchants, like walmart, the discount rate drops very close to 1.6%, so the payment gateways are just making a fraction of a penny on most transactions. I would'nt be surprized if Walmart actually tried to negotatite the base interchange fees.
Also, you are not getting 2%, as there are always other fees, such as non-qualified credit cards, in which you pay a few tenths or a percent to fund reward programs,etc.
Corporate Purchase cards are the worse, when it comes to unqualified fees, with some cards adding almost an additional 1%