Interchange Fees: Can Retailers be the Consumers Ally?
Retailers are currently lobbying Congress to decrease interchange fees - the money paid by the retailer to Visa / MasterCard to process the credit card transaction by the consumer. Their bill is known as the Credit Card Fair Fee Act. Consumers are also lobbying for credit card reform. Does it make sense for retailers and consumers to join forces in opposition of the credit card companies - or would that decrease the likelihood of reform for consumers?
Your thoughts are welcome.
[...] and the associated fees are under the microscope. Given that retailers are lobbying Congress for lower interchange fees, and some gas stations offering different prices for cash and credit, it wouldn’t surprise me [...]