Each year, financial merchants such as Visa, Mastercard, American Express, and banks process 39.6 billion card transactions in the United States, amounting to 108.6 million transactions each day. To ensure these transactions are processed quickly and securely, financial merchants and banks impose interchange fees on transactions, more commonly known as swipe fees. Last year, merchants businesses paid financial […]
On December 3, 2009, ACI Experts Dr. Larry F. Darby and Dr. Joseph Fuhr, Jr. discuss the effects of hidden credit card fees on consumers and retail merchants. Click here to here the entire audio. call-audio1
To the see the article in the Delaware County Daily Times click here.
WASHINGTON—The American Consumer Institute (ACI) today released a ConsumerGram detailing the negative effects that high credit card fees (referred to as interchange fees) have on families across the country. On average, each household will pay an estimated $337 this year in interchange fees – a hidden tax on credit card purchases. In turn, the credit […]