BluePerspectives

The Credit Card Competition Act will help support a stronger, more competitive free market

The swipe fee is the reason why small businesses in your area have a piece of paper taped to their registers that says “no credit card under $10.” For each credit card transaction, they pay a network such as Visa or Mastercard, which handles the processing, a fee of 2-3 percent. That…

 If you’ve ever questioned why a neighborhood small business has something taped to the register that reads,” No credit cards under$ 10,” the answer is what’s known as the” swipe fee.” The merchant pays a network like Visa or Mastercard, which handles the processing, 2–3 percent for each credit card transaction. that… If you’ve ever questioned why a neighborhood small business has something taped to the register that reads,” No credit cards under$ 10,” the answer is what’s known as the” swipe fee.” The merchant pays a network like Visa or Mastercard, which handles the processing, 2–3 percent for each credit card transaction. that… 

The swipe fee is the reason why small businesses in your area have a piece of paper taped to their registers that says “no credit card under $10.” For each credit card transaction, they pay a network such as Visa or Mastercard, which handles the processing, a fee of 2-3 percent. That…

  

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