Congress Drops an Axe on the Credit Card Industry (MA, V)


Interchange fees are charged when anyone swipes a card, debit or credit. They typically range from 1%-3% of the transaction amount. So when you buy something for $100 and put it on plastic, the store you bought it from only gets between $97 and $99. The rest comes out as interchange fees.

via Congress Drops an Axe on the Credit Card Industry (MA, V).

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