It is very difficult, then, to justify why VISA and Mastercard come before this committee--and before finance committees in the past--and say “Our VISA debit is 1% versus 2¢”. MasterCard.... That's the reason why retailers said no. That's why there's a code of conduct. There's no reason. Let's be honest here—it's my 10 seconds—they charge it because they can.
It's as simple as that.