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Title: Shops to start charging you for paying by credit card from tomorrow Post by: Mark on January 29, 2013, 06:53:24 am Shops to start charging you for paying by credit card from tomorrow
A new rule going into effect Sunday could cost you more when shopping with a credit card at some stores. Visa and Mastercard have agreed to let merchants add a service charge equal to the cost of processing a credit transaction to the bottom line. The cost of processing is usually 1.5 to 3 perc cent, and merchants are capped at a 4 per cent fee under the agreement. The rule change was made as part of settling an antitrust suit brought by retailers. Read more: http://www.dailymail.co.uk/news/article-2268744/New-fee-using-credit-card-begins-Sunday-retailers-say-wont-charge-you.html#ixzz2JMutyDd7 Title: Re: Shops to start charging you for paying by credit card from tomorrow Post by: Kilika on January 29, 2013, 03:53:35 pm See how they did that? The card company gets busted for overcharging merchants, which one would think means they owe merchants, so instead they "give" merchants the "ability" to charge customers more fees, the very fees the merchants were being charged that the merchants complained about! So they just moved the penalty over to consumers, and the card companies don't pay squat for their actions. That's some pretty shady going's on. Again, by bankers. |