> Cashback is generally lower here because interchange fees are regulated/capped to 0.3% for personal credit cards and 0.2% for personal debit cards. Offers of 2% cashback simply won't work outside the US so I'll be curious to see how (if?) they try and expand this globally.
This is also the reason that the bigger banks in Australia dragged their feet on ApplePay, there's little to no margin on those fees that Apple taking more made it untenable for them to support it here, until they did.
This is also the reason that the bigger banks in Australia dragged their feet on ApplePay, there's little to no margin on those fees that Apple taking more made it untenable for them to support it here, until they did.