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The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]
Beginning this week, merchants may charge a 4% premium for people who use credit cards for their purchases. A settlement in a legal action between card companies and merchants has triggered that fee.
v. t. e. A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services or withdraw cash on credit. Using the card thus accrues debt that has to be repaid later. [ 1] Credit cards are one of the most widely used forms of payment across the world. [ 2]
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Long-suffering businesses have won a big concession from credit card networks Visa (V) and MasterCard (MA): the right to add surcharges on customers who use their cards. But despite warnings that ...
Today, Sunday, Jan. 27, 2013, is a day that may live in infamy. Or it may not. Really, it all depends on how retailers decide to play things. Last year, as you may recall, MasterCard and Visa ...