Not sure how on earth you think the payment rails are free.
Whether a debit transaction uses mastercard/visa or EFTPOS there is a scheme fee. In addition there will be an issuer fee to the card issuer. Currently the AVERAGE debit transaction incurs over 20bps of wholesale costs (scheme and issuer fees).
Small transactions like those your cafe would make have MUCH higher scheme costs for debit transactions as both EFTPOS and the two international schemes charge a minimum fee in cents. E.g. Visa debit is 5.5c for payments less than $15. I.e. 37bps at $15.00 and a ridiculous 110bps for a $5 transaction.
That's JUST the scheme cost, the issuer cost would be on top and then the acquirer needs to actually make enough gross margin to cover their operating expenses!
E.g. Tyro's opex in FY24 was $151m!.
So in short you're not correct. It does indeed cost the merchant acquirers A LOT of money to provide the payment service your business relies on.
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84.5¢ |
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Mkt cap ! $446.4M | |||
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| TYR (ASX) Chart |