According to Mobile PaymentsToday, Visa was planning an overhaul of its interchange fee structure that merchants pay to accept its cards, adjusting its fees for new businesses such as ride-hailing and other app-based services.
The company’s interchange fees will go up or down depending on the merchant and the way a consumer pays for their purchases. Therefore, ecommerce sites will face higher rates, while retailers in certain services categories, such as real estate and education, will see fees decline.
Besides, Visa’s transaction volumes fell in the second half of March 2020, facing a deterioration in cross-border travel-related spending.
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