### Comment:
Neither of those can / will undercut the pricing of V / MA. Technology is very different. Honestly regulators should step in and set a cap on prices. Under current system its welfare for the rich - those 2% cashback cards cost merchants at least that much in interchange and the honor all cards rule forces merchants to accept them at the same price as poor people with cash and debit cards.

### REPLY:
I’m pretty sure the bulk of the fees don’t even go to V/MA,  most of it goes to whatever bank is handling it.  The interchanges fees and how it’s split up is probably one of the most confusing things to merchants. They make it intentionally difficult to understand.

### END.