Visa, Mastercard could raise interchange fees

Monday 18 February 2019 00:21 CET | News

Visa and Mastercard have allegedly shared plans to raise interchange fees on card transactions in the US.

When paying with a credit or debit card, merchants pay a fee to the bank that issued the card. The bank then pays another fee to the company that operates the card network.

According to TechCrunch, which cites a report from The Wall Street Journal, the two companies will raise their fees in April; Visa confirmed the change.

Earlier in January 2019, the European Commission has announced that non-EU Mastercard and Visa cards used in European stores will have the same rates of interchange fees as European cards.

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Keywords: Visa, MasterCard, interchange fee, card payments, merchant, US
Countries: World

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