If You Thought Just Interchange Fees Were Hidden, Read This…

January 27, 2008

We came across this threadon FlyerTalk’s online bulletin board forum about service charges at restaurants. Readers commented on how some restaurants add a service charge which patrons might not notice, and then double the tip. 

When compared to the nearly $40 billion in interchange fees that Visa and MasterCard’s member banks are still able to charge, this situation is tempered, but helps draw attention to a variety of hidden fee tricks.  In the case of restaurant guests, when the bill comes they can carefully review and choose whether to leave an added tip, but for all electronic payment transactions, merchants and cardholders are invisible in the process and are forced to pay what few understand.  From prior postings, we asked why Visa and MasterCard have not implemented out simplified receipt solution, by printing the exact interchange fee on every receipt? Click here for more info.

Click here to read the entire FlyerTalk forum thread