the processor makes sure the floor is covered […] but there is no ceiling with any processor that I’m aware of

Nobody’s in business to lose money.

I suppose because online transactions are more likely to be fraudulent or something

I can see that. I’ve been lucky enough to only see two cases of stolen card numbers, and in both cases there was a small purchase (to verify the number), and then largish purchases I guess to see if merchandise can get delivered before the fraud is noticed. I wonder if they write off on their taxes the fees on those largish, fraudulent purchases they catch.

I guess with the costs of running all the servers to look for fraud, security on the whole works, hot backups, cold backups, etc, that 3% doesn’t look so bad for all that goes on behind the scenes, but it also doesn’t look like their stock prices are hurting (what the heck happened to Fiserv that owns Clover that they dropped 50%?).

Do you also take American Express? Is there any difference on your end between Visa/Mastercard/AMEX? I’m genuinely curious since I remember all the old commercials.