Retailers push for lower swipe fees
September 21, 2022
Retailers are lobbying Congress to enact legislation that would give them the flexibility to determine who to use to process interchange (AKA swipe) fees they are charged when customers buy goods with credit cards. Merchants say that reducing or eliminating the fees will cut the cost of goods to consumers. Credit card companies claim that retailers will pocket the difference and consumers will enjoy fewer benefits associated with card usage.
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