Visa planning major changes to swipe fees, Bloomberg reports

According to a Visa document outlining the changes, which was sent to banks, the company’s interchange rates will go up or down depending on the merchant and the way consumers pay for their purchases. Higher rates seem imminent for transactions on ecommerce sites, while retailers in certain services categories, such as real estate and education, will see fees decline.

While the changes amount to just a few cents on every transaction, those pennies add up, swipe fees being already a flashpoint between merchants, banks, and payment networks such as Visa and Mastercard.