Visa and Mastercard, the two biggest U.S. card networks, are preparing to increase certain fees levied on U.S. merchants for processing transactions that will kick in this April, the Wall Street Journal reported on Friday, citing people familiar with the matter. From a report: Some of the changes relate to so-called interchange fees, the report said. Interchange fees are what merchants pay to banks when consumers use a credit or a debit card to make a purchase from their store. Fees that Mastercard and Visa charge financial institutions, such as banks, for processing card payments on behalf of merchants are also set to increase, the report said.

Read more of this story at Slashdot.

------------------------------------------------------------------------------------ - Source: Read on Source Website...

Source Site: Slashdot

Link: https://slashdot.org/

Original-URL: https://mobile.slashdot.org/story/19/02/15/1450236/visa-mastercard-mull-increasing-fees-for-processing-transactions-report?utm_source=rss1.0mainlinkanon&utm_medium=feed