USA Today Article Punctures Banks’ “Swipe” Fee Myths
WASHINGTON--(BUSINESS WIRE)--In a news story today, USA Today exposed some of the myths banks propagate about hidden, exorbitant “swipe” fees the banks charge retailers when customers buy with credit or debit cards, said the Merchants Payments Coalition. The article also makes a strong case for reforming the way Visa and MasterCard and their bank members fix the fees that consumers pay when they “swipe” their cards. American merchants pay the highest swipe fees in the industrialized world, which
