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interchange-fees
interchange-fees
Merchants Demand Credit Card Fee Relief
(Photo: chuckp)
Merchants are pushing for more credit card fee reform, for the fees they have to pay. Every time you swipe at checkout, whether it's a credit or debit card, the merchant has to pay two fees. One is a flat per transaction fee, the other is a percentage of the total sale, called the interchange fee. Those rewards cards you're so fond of? They have the higest interchange fees. Those rewards and cashbacks don't come from a magical reward tree, they're paid for by the interchange fees. In other words, the Quickie Mart is paying for your "free" airline miles. More »
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7-Eleven Asks Consumers To Help Fight Credit Card Companies
7-Eleven plans to serve up your next Slurpee with a petition to Congress protesting unfair credit card fees. No, the fees aren't unfair to you, they're unfair to 7-Eleven. The vendor of last resort is mad about interchange fees, the fees banks charge merchants for accepting a credit card payment. The recent credit card legislation signed into law protected consumers from rate increases, but stayed silent with regards to interchange fees. More »
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