New Credit card checkout fees

  1. Stacie L profile image75
    Stacie Lposted 12 years ago

    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?

    replyreport
  2. paradigmsearch profile image60
    paradigmsearchposted 12 years ago

    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.

    replyreport
  3. Stacie L profile image75
    Stacie Lposted 12 years ago

    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.

    replyreport
 
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