Swipe Fee Settlement Lets Merchants Surchage, But Will They?

What's Next In Payments®
4:54 PM EDT July 24th, 2012

Last week’s multibillion-dollar swipe fee settlement would give merchants the right to charge higher prices for purchases completed with a payment card, were it to take effect. But even if merchants did end up receiving that power, would they use it?

At this point, many merchants are “wrestling” with that very question, reports the Wall Street Journal.

Luan Schooler, a small business owner in Oregon, tells the Journal she might add a surcharge for purchases under $10. “We have people that will pay for a $1.50 soda on a credit card,” she tells Emily Maltby. “In those circumstances, we are losing money—or making so little, it wasn’t worth selling it in the first place.”

Read the full story here.

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