Merchants Shred Costs of Payments by Plastic – SmartMoney.com #swipefees


As part of last year’s Dodd-Frank financial-overhaul law, debit-card fees will drop about 75% on July 21. The Federal Reserve, which is issuing the interchange-fee rules, has proposed capping fees at about 12 cents per transaction for large banks, down from the current average of 44 cents. The Fed hasn’t announced the final figure yet.

via Merchants Shred Costs of Payments by Plastic – SmartMoney.com.

This entry was posted on Tuesday, June 21st, 2011 at 6:26 pm and is filed under merchant interchange. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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