Base

The Visa / Mastercard swipe fee settlement is estimated to save retailers $30B

Moving onchain will save them 50x more - $1.5T+ 👇

But transactions on Base today cost 0.03% - nearly 100x lower than the new swipe fees - and are still getting cheaper!

So while retailers may save $30B from the current settlement reducing swipe fees by 4-7 bps, they still have another $1.5T to save by moving onchain

We now know the limits of what’s possible with the existing system, even through decades of litigation and regulatory pressure.

Time to update it, onchain.

After decades of regulatory pressure, industry lobbying, class-action suits, etc - retailers were able to get swipe fees reduced from roughly 2.5% to 2.45% on average

That reduction is estimated to save retailers $30B in fees and considered a big win for the industry