NACDS supports reduction of hidden credit card fees

NACDS announced that it remains committed to support efforts to reduce the hidden costs of interchange fees to retailers and consumers, following the House Judiciary Committee Antitrust Task Force's recent hearing on credit card interchange fees. Committee members examined the impact of interchange fees on consumers and businesses as well as the antitrust law implications of the interchange fee system. An interchange fee is usually a percentage of each transaction that credit card companies charge retailers every time a consumer uses a credit or debit card to pay for a purchase. Interchange fees have more than doubled in the past 10 years. Credit and debit card interchange fees average close to 2% on each card transaction.

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