The link shows their consolidated revenue across the entire world. If you have a source that breaks it down to the US, and specifically US revenue on their credit products (Visa is by far the largest issuer of debit cards, for example, and debit cards got their fees capped by the Durbin amendment), I would love to take a look.
I'd love to see it too - maybe I'm having trouble following your point.
If those are their maximums, then that's the worst case for the customer right? It is these rates that would yield the biggest spread between cash and credit.
Merchants that are able to negotiate better rates inherently have less of a spread between cash and card prices right, and are therefore able to offer a better relative deal to all customers including cash customers. Walmart can better control their costs than a mom-and-pop shop, has more volume, and hence more leverage against $V. So if you're a low-income person at Walmart, you're going to be least relatively affected by card surcharges. Definitely at Costco as you point out, I think Citi actually went below cost to take the portfolio from Amex.
Even in the case of smaller shops, Square, Stripe, Adyen, etc have done a ton to level the playing field by aggregating volume and using it against networks.
