Walmart, Target, and Kroger are backing two bills in congress that will lower credit card fees.
CNN—Walmart, Target, and Kroger are backing two bills in congress that will lower credit card fees.
The charges usually run between 1-3% of the transaction’s final price and stores often pass them on to customers.
According to the Nilson Report, last year retailers paid about $138 billion in processing fees.
Credit card companies say that money covers things like reward programs – banking services and protects retailers from fraud or customers who don’t pay their credit card bills.
Source: https://www.abccolumbia.com/2022/09/21/retailers-looking-to-lower-credit-card-processing-fees/