In a perfect world the cost of accepting payments would be zero, and any moentization would come from building additional products off the underlying transactional data.
Unfortunately we very much still live in a V1.0 economy dominated by payment bros whose idea of innovation is surcharging consumers, cuz, you know, #value.
My bet is PayFacs sees pricing actions first. There’s probably one more large consolidation to happen and then it will be easier to pull off these actions to the PFs.
I’ve heard some creative ways processors are already raising margin on their payfacs. Investigation coming