Retailers say swipe fees could add $2.5 billion in back-to-school costs

Banks will charge retailers as much as $2.5 billion to process credit card transactions during the back-to-school season. “These fees have been soaring for years but are particularly burdensome when families are hit with the high inflation that has weakened buying power this year,” said Doug Kantor, general counsel at the National Association of Convenience Stores and an executive committee member at the Merchants Payments Coalition.