A PYMNTS Company

US: Consumers beware: high fees for credit card processing now an option for retailers

By  |  January 25, 2013

As a result of a recent settlement between major credit card companies and US regulators, retailers now have the option of charging up to a four percent service fee to cover the cost of processing those cards from companies like Visa or MasterCard. But according to analysts, stores are not likely to implement those charges, especially as high as four percent. A representative for consumer group Consumer Action said it is “not expecting” to see stores suddenly implementing these services charges, though emphasized that consumers should take notice that it is a legal option for retailers. Consumers should also be aware that when shopping online, that service fee may not make itself known until the checkout phase of the deal.

 

Full Content: Komo News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.