Visa and Mastercard are evaluating if they should follow through with planned fee changes - Business Insider

The fee change plans differ between the two card networks: Reports indicate that Visa's plans would increase fees at restaurants and small businesses, keep them stagnant at small grocery stores, and decrease them for larger grocers, while Mastercard's would increase fees at small grocery stores and businesses, keep them consistent for large grocers, and cut them for transit.

The changes could exacerbate existing fee-related tensions between merchants and card networks, particularly in light of the coronavirus pandemic. The pandemic has hit the retail sector hard, shuttering nonessential retail and surging unemployment — effects that have limited consumer spending. As a result, sellers of all types are likely to face a challenging road to recovery, making the strain from new fees potentially untenable, particularly because interchange was already becoming increasingly costly: US merchants paid $53.6 billion in interchange last year, up 8% annually from 2019.

Drop fees to small businesses & restaurants. Cut them some slack right now!

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

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