Proposed “Swipe Fees” Could Affect Visa Inc. & MasterCard Inc. | Comtex SmarTrend


05/04/2010 – Senate Judiciary Committee chairman and Vermont Senator Patrick Leahy (D) has reportedly supported “swipe fees” that could negatively affect revenues of two credit card industry powerhouses, Visa Inc. (NYSE:V) and MasterCard Inc. (NYSE:MA).

Senator Leahy will co-sponsor the “swipe fees,” or interchange measures, to curb fees that are charged to merchants on any given transaction.

The fees average almost 2% per purchase and bring the credit card industry over $40 billion annually.

via Proposed “Swipe Fees” Could Affect Visa Inc. & MasterCard Inc. (V,MA) | Comtex SmarTrend.

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