Retailers Geared for Fight on Credit-Card Fees

Retailers pay about $2 in fees for every $100  of credit card purchases: that’s six times the cross-border rate in the EU, four times more than Australia and twice that of the U.K. and New Zealand, according to a report put together by a group of retailers, supermarkets, drugstores and other businesses. The report, according to Time magazine, is being used to more persuasively urge the federal government to either lower merchant credit card processing fees or at minimum allow business owners to negotiate rates directly with banks and credit-card networks.

Retailers Ready for Fight on Credit-Card Fees, Time magazine.