“Uber didn’t disclose card-acceptance costs in its latest financial report, but Digital Transactions News estimates the bills total at least $1 billion a year. That estimate is based on figures from the registration statement Uber filed ahead of its May initial public offering of stock. The document said Uber paid $749 million in credit card processing fees in 2017, up 62% from $461 million in 2016. While the filing didn’t give 2018 acceptance figures, it did say 87% of Uber’s gross bookings last year were on credit or debit cards.”

“Payment card costs are c-store operators’ second-largest expense after labor, according to the spokesperson. Wages increased 4.4% last year, with $10.74 per hour the average wage for a store associate. The industry posted pre-tax profits of $11 billion last year, up 5.8% from $10.4 billion in 2017.”