The proposal would also have a dramatic impact on merchants like Dave Carpenter, the CEO of J.D. Carpenter, a chain of six gas station convenience stores in Urbandale, Iowa. Carpenter says his credit card and debit card processing fees have risen from $50,000 a year in 2000 to $900,000 a year today.
“We’re paying for all the reward points and all the air miles — everybody thinks they free, but they’re not,” Carpenter says. “It would be okay to pay some fair amount for a reasonable processing fee, but there is no negotiating with Visa and MasterCard.”
Credit Card and Debit Card Swipe Fees: The Debate in Congress Heats Up – DailyFinance