Up next: Credit card checkout fees
Beginning Sunday, merchants will be allowed to charge a fee for accepting MasterCard and Visa. It remains to be seen if they will.
By MSN Money partner
Last summer, there was an antitrust settlement between merchants and Visa, MasterCard and big banks about credit card interchange fees. These are the "swipe" fees merchants pay to the networks (like Visa) to process your payments when you use your card.
The settlement called for merchants to receive $7.2 billion in cash and temporary reductions in interchange fees. This settlement also gave merchants the legal right to add a "checkout fee" when you use a credit card to pay for purchases. These fees could start popping up as soon as Sunday.
http://money.msn.com/credit-cards/artic … d775e29b3b
OK now the credit card companies dont charge enough...the merchants are getting a piece of the pie?
I'm kind of ok with this... As things stand now, cash customers are paying part of the cost of those who use credit cards.
I have used gas stations that give a discount for cash,which is the same thing maybe. If all merchants started to offer cash discounts ,then maybe it would be fairer.
by HubPages 8 years ago
How to get credit
by manoj1234 3 years ago
Dear sirThe company for which I was working had issued me a credit card in 2007.For 2 years I was not using the credit card.After purchase of the new home I have removed 20,000 rupees from the credit card.Unfortunately due to some reasons I was not able to repay the credit card dues because I have...
by Rajinder Soni 6 years ago
How to resolve credit card issue with the bank?My friend's dad owns an ICICI credit card. Outstanding amount 2 years ago was around 50k. Due to financial crisis at that time, he was not paying minimum amount due. Slowly he started getting calls from recovery agents threatening and harassing them....
by GoldenBird 6 years ago
SOPA and PIPA are two proposed laws that will enable copyright holders to accuse websites which hosts pirated content. Wikipedia, in protest, will blackout English Wikipedia for 24 hours. Should Internet be free and open worldwide?
by Susan Reid 7 years ago
JP Morgan Chase is considering capping debit card transactions to $100 or even $50. It's all about fees they charge per transaction, currently $.44 and proposed to be slashed by Congress to $.12.That's a big hit for banks, yes.But after years of "training" us to swipe our debit cards...
by Gary Anderson 8 years ago
I just wrote a hub on this, but what I want is to have a discussion here. This is the issue: the senate voted on 5/19 to forbid the states from setting caps on interest rates for credit cards. The injustice of this is that the state in which the credit cards are issued, namely South Dakota and...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|