[MinorTom]

In addition to mschuster91's point, you should know that the cap only applies to four party scheme card transaction interchange, not to scheme fees nor to your acquirer's fees. In reality you will pay somewhere between 0.9% and 2% for your transactions, whereas local schemes can be as cheap as 0.2% or even pennies.

Compared to the US's 1.15%~2.7% +10ct interchange (not including other fees!) it's still quite cheap.

[mschuster91]

Add on top the "cashback" and "reward" schemes that many American CCs offer. These are paid for by the vendor.