more like .275% if we're talking about the same thing.
That's not the whole story. You're looking at the amount of money that is passed on to the issuing bank. Visa also charges network fees and assessments (both per-transaction and percentage) that it keeps itself, and the merchant's acquiring bank will charge a fee for processing the transaction, and a mark-up on Visa's fees to pay for their risk.
The big thing is the lines for Visa Rewards. I don't know how it is in Australia, but rewards cards are very common in the US and incur a higher rate. A 0.8% average rate is more realistic than the 0.275%.
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http://www.visa.com.au/aboutvisa/interchange/interchange.shtml
more like .275% if we're talking about the same thing.
That's not the whole story. You're looking at the amount of money that is passed on to the issuing bank. Visa also charges network fees and assessments (both per-transaction and percentage) that it keeps itself, and the merchant's acquiring bank will charge a fee for processing the transaction, and a mark-up on Visa's fees to pay for their risk.
The big thing is the lines for Visa Rewards. I don't know how it is in Australia, but rewards cards are very common in the US and incur a higher rate. A 0.8% average rate is more realistic than the 0.275%.