Merchants Score Senate Win in Fight Over Card Fees – ABC News


However, a merchant who has sued card companies and banks over swipe fees says savings from fee cuts would ultimately reach consumers.

“It will transfer billions of dollars from banks to American families and small businesses,” said Mitch Goldstone, CEO of Scanmyphotos.com, an Irvine, Calif. e-commerce and retail photo business.

If merchants pay lower fees on customers’ debit payments, those that don’t respond with price cuts will lose cost-conscious customers, said Goldstone.

via Merchants Score Senate Win in Fight Over Card Fees – ABC News.

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