Retailers fight back on debit-card swipe fees – The Washington Post


The amount of money at stake for both sides is even greater. According to the Federal Reserve, interchange fees totaled nearly $17 billion in 2009. Under the current system, retailers include those costs in the prices they charge to consumers, amounting to what they called a “hidden tax on shopping.” Any reductions in the fees would be passed on to consumers in the form of lower prices or better service, the NRF said.

via Retailers fight back on debit-card swipe fees – The Washington Post.

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