Durbin on Interchange #SwipeFees | CSP Daily News / Magazine


Interchange fees are supposedly charged by Visa and MasterCard in order to cover the cost of processing a credit or debit card transaction. These fees continue to rise even though processing costs have decreased. Nearly $50 billion in interchange fees were charged by credit and debit card networks in 2008 — coming out of the bottom lines of small businesses, charities and government balance sheets. Of these fees, 80 percent of these fees went to just ten large banks.

READ ARTICLE via Durbin on Interchange Fees | CSP Daily News / Magazine | CSP Information Group, Inc..

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