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Payments Giants Jack Fees on Amazon, Walmart to Four-Umph

Source: michaeljburry.substack.com

Michael Burry calls out Visa and Mastercard for hiking interchange fees on Amazon and Walmart to 4% from 2%.
The payments giants now take $20 billion more yearly from these retailers than they did two years ago.
This fee grab threatens to squeeze retail profits and could spark new fights over payment costs.

Michael Burry analyzes how Visa and Mastercard jacked up interchange fees - the cut they take from every swipe - on big retailers like Amazon and Walmart. He shows fees doubling to around 4% on these giants while staying flat elsewhere. It matters because these hidden taxes hit shoppers indirectly through higher prices and could ignite a bigger battle over who controls payments.