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A remark that firms make 40% of their income from merchant fees isn't the same as saying these constitute 40% of the funds travelling through accounts.
In a way it's like client funds, as are all the account balances of all types of bank accounts; including loans and credit cards; they don't belong to the bank, and don't appear as money earned by the bank.
The fees the bank earns will be a tiny fraction of that, and that turnover is what is analysed as the performance of the business. So it's entirely possible that what Farfetch said may be true.
The merchant and interchange fees make up a substantial amount of their income - see here - Amex for example made $4bn from interchange income vs $8.6bn from interest
Also it's factually wrong they are capped at 0.3%, in fact one of the many "brexit bonuses" was the fact they were no longer subject to the EU cap rules and in fact the cap is actually 1.5% for credit cards / 1.15% debit cards