Last year, Visa and MasterCard collected over $77 billion in credit-card swipe fees. That's about $700 for each U.S. family.
Credit card swipe fees are going up, costing businesses and could eventually cost all of us more money too.You spend $50 filling your gas tank. When you swipe your credit card, the business must pay a fee to a payment-processing company. For Visa and MasterCard, it's about 2 percent of the purchase price, meaning. If you spend $50, the business ends up with 49.29.
Visa and MasterCard just increased their fees again last month. The companies said the money is used for security and fraud protection.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Phoebe Bridgers Shares That She Had an Abortion Last YearThe musician spoke out about her experience following the leaked Supreme Court draft opinion to overturn Roe v. Wade, arguing that “everyone deserves that kind of access.”
Read more »
Bob Krueger, the last Texas Democrat to serve in the U.S. Senate, dies at 86Bob Krueger, a conservative Texas Democrat, was a politician and U.S. diplomat to two African countries.
Read more »
Last women and children evacuated from Ukrainian steel mill\nZAPORIZHZHIA, Ukraine (AP) — Russian forces kept up their barrage of southern Ukraine, hitting the major Black Sea port of Odesa with cruise missiles and bombarding the steelworks up the coast in Mariupol, where Ukrainian fighters remained trapped underground.
Read more »
Last-place Trojans top Wildcats in series openerUA loses 6-1 to fall to 32-16 overall and 13-9 in the Pac-12.
Read more »