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Settlement Allows Retailers to Add ‘Checkout Fees’ for Credit Card Purchases

January 29, 2013
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Retailers in most states now have the option to charge a fee to consumers who pay with a credit card. The new "checkout fee," in effect since Jan. 27, is the result of a multibillion dollar settlement announced last summer between credit card issuers and millions of merchants. Visa, MasterCard and nine major banks agreed to pay $7.25 billion to settle charges that they were fixing credit card processing fees. Credit card issuers agreed as part of the deal to reduce the "swipe fees" that merchants pay to issuers when cards are used, but only for eight months....

 

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Settlement Allows Retailers to Add ‘Checkout Fees’ for Credit Card Purchases
January 29, 2013 From Vending Times
Retailers in most states now have the option to charge a fee to consumers who pay with a credit card. The new "checkout fee," in effect since Jan. 27, is the result of a multibillion dollar settlement announced last summer between credit card issuers and millions of merchants. Visa, MasterCard and nine major banks agreed to pay $7.25 billion to settle charges that they were fixing credit card processing fees. Credit card issuers agreed as part of the deal to reduce the "swipe fees" that merchants pay to issuers when cards are used, but only for eight months.
 
Appeal of $7.2 billion settlement between Visa, Mastercard and merchants is deferred
December 13, 2012 From NPNweb.com
A US appeals court refused to hear an expedited appeal of the preliminary approval of a $7.2 billion settlement between Visa Inc., Mastercard Inc. and merchants over credit card fees. A US appeals court refused to hear an expedited appeal of the...
 

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