Hello
I'm sure we've all noticed that most of the major high street stores are these days processing their card payments through a third party subsiduary.
On all my receipts it says "your card payment will be processed by $megacorp card processing limited who will retain 2.5% of the balance and will pass the remainder to $megacorp plc".
Does anyone know why they do this? Is it now sufficiently cheap for them to become members of VISAnet directly and process their own payments?
If so, why do they run them through a subsiduary? Is it a good "tax efficient" thing to do?
cheers peter