Why many business owners would love it if you stopped using your credit card

📆 26-09-23 15:05:00
📰 NPR

⏱ Reading Time:
30 sec. here
2 min. at publisher
📊 Quality Score:
News: 15%
Publisher: 63%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

The fees merchants pay for accepting credit cards are much higher in the U.S. than in Europe. Ice cream shop owner Victor Garcia, for example, paid more than $25,000 in swipe fees last year.

Some lawmakers are hoping to reduce swipe fees by promoting increased competition in the processing of credit card transactions.

Some gas stations and other businesses add a surcharge for customers who use credit cards to cover the swipe fee. But most retailers just raise their prices, spreading the cost of swipe fees among all their customers, whether they're paying with plastic or not. A display of credit cards accepted for use is seen on a door as a shopper steps out of a store in Monterey Park, Calif., on Sept. 12, 2023.Frederic J. Brown/AFP via Getty Images

Banks and the credit card networks are pushing back, arguing the measure would jeopardize security and credit card rewards.

Écrire un Commentaire

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Life Raft Treats ice cream company recalls products due to listeria concernsAn ice cream company has recalled a variety of products due to the potential contamination of a life-threatening bacteria.
La source: ABC7NY - 🏆 592. / 51 Lire la suite »