It depends a lot on the card type, the location, the volume of the business and it’s risk profile, but eventually can get to a pricing scheme called interchange+, which is a fixed fee (generally <15¢) on top of the cost to process cards for your provider (so fee from the issuing bank + network fee).
In the US this varies a LOT depending on the card type, but most consumer cards are approx 1% interchange + a small fixed fee. In Europe these interchange rates are regulated at 0,3% for consumer cards. There are cases of special schemes (eg. CB in France) where processing can be even cheaper.
Thanks. I wasn't familiar with this. That's definitely significantly cheaper (transaction cost wise at least), but even then doesn't leave enough room to profit on the transaction fee alone so I'm assuming they must be charging the schools for the service and partially subsidizing with the convenience fees.
In the US this varies a LOT depending on the card type, but most consumer cards are approx 1% interchange + a small fixed fee. In Europe these interchange rates are regulated at 0,3% for consumer cards. There are cases of special schemes (eg. CB in France) where processing can be even cheaper.