Visa and Mastercard are planning to increase fees that many merchants pay when they accept customers’ credit cards. The fee increases are scheduled to start in October and April, according to people familiar with the matter and documents viewed by The Wall Street Journal. Many of the increases are for online purchases.
The changes could result in merchants paying an additional $502 million annually in fees, according to CMSPI, a consulting company that works with merchants.
U.S. merchants paid an estimated $93 billion in Visa and Mastercard credit-card fees last year, according to the Nilson Report, an industry publication. That was up from about $33 billion in 2012.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
