1) Who gets the swipe fee....the bank, or the network? I.E. Chase Freedom..does Chase get a cut or does Visa?
The issuing bank, the processor, and acquiring bank all take their cut of the fee.
2) If it's the network...how does the issuing bank make profits on CCs? Or are PIF customers non-profitable?
Issuers make money through fees, interest, and a portion of the swip fee. Customers who PIF, transactors, aren't as profitble as revolvers, but the issueiing bank still makes money through their portion of the swip fees.
3) Are swipe fees 'per swipe' or are they a percentage of the transaction? Is a single $5 charge worth the same as a single $5000 charge to the group receiving the fees?
Fees are per swipe, some are a percentage of the transaction, while others are a flat fee. Larger merchants typically negotiate their fees, but smaller merchants usually have to pay what the processor charges.
4) Do the different levels have different swipe fees? IE Visa vs. Visa Sig, WMC vs. WEMC, etc?
Different cards incur different fees, WEMC/Visa Sigs/rewards cards incur larger fees than plain ol' cards, this helps pay for the benefits associated wit the cards.
5) Are Amex/Discover higher in swipe fees which is why they aren't as accepted as Visa/MC?
Amex usually charges the highest fees; however, each card type charges their own fees. I read somewhere there are over 100 different fees based on the type of card.
