Ann: FY17 Results Presentation, page-103

Max interchange is now 80bp for visa/mastercard and dual branded amex cards. So really, any business with throughput of more than a couple hundred million shouldnt be paying much more than 100bp even for the most premium of cards. I can see merchant surcharge APY customers at some point. But because the credit profile of AFY users, they'll probably be happy to pay the surcgarge so they can get their hands on those designer jeans today.

And youre so right about the growth nature and thus bad debts showing a more advantageous picture. I mentioned this numerous times in the old AFY threads.