Swipe fees making it harder for retailers during the pandemic
February 24, 2021
Visa and Mastercard are planning to raise interaction (AKA swipe fees) for some credit card purchases. Merchants paid $18.1 billion in interchange fees last year, up 13 percent year-over-year, according to the Nielson Report. The fees charged by the card issuers have long been a source of dispute with retailers who claim that the high price of conducting transactions, particularly online, is cutting into what little profits they already make.
Recent News
Amazon Broadens Same-Day Pharmacy Delivery Service to New York City and Los Angeles
Amazon is looking to make prescription delivery as seamless as possible for customers in New York City and Los Angeles by adding them to the list of cities where it provides same-day pharmacy deliveries.
Fashion Enthusiasts Seek Algorithm-Free Shopping Inspiration on Substack
Substack, an online platform that provides publishing, payment, analytics, and design infrastructure to support subscription newsletters, has become the go-to destination for young fashion enthusiasts wanting to escape algorithms.
Mike Lindell’s MyPillow Evicted From Warehouse After Falling $200K Behind on Rent
The entrepreneur must vacate the property located in Shakopee, Minnesota.
Mega Millions Has a $1.13B Jackpot Winner From New Jersey
One winning ticket was sold for the Mega Millions $1.13 billion jackpot in New Jersey.