Take a look at the costs the Banks actually incur to support their debt card transactions. It is fractions of a fraction of a penny per transaction. Banks are raking it in for next to nothing.
Really? A transaction fee was about 40 cents. If the cost were a fraction of a fraction, let’s say .25 cents, and assuming the switches take half ( I have no idea ), that means the banks would be making 80X cost on their investment. Now that beats the heck out of Wall Street. Wonder why their stock hasn’t recovered? Actually bank stocks have been pretty mediocre forever.