What Are Interchange Fees & What Can Merchants Do About Them?
December 15, 2022 ⚊ 1 Min read ⚊ Views 124 ⚊ BLOG
What are Interchange Fees & How can Merchants Fight Back Against Them?
All merchants who accept credit and debit cards should be familiar with interchange fees, and that’s because interchange fees are a costly expense that significantly reduces a merchant’s bottom line. Interchange fees in the US are higher than anywhere else in the world, and last year Visa and Mastercard quietly yet significantly increased their interchange fee rates, a change that’s expected to yield them an additional $1.17 billion per year.
Interchange fee rate increases may be good for large payment processing companies, but they greatly affect merchants and sometimes make a would-be profitable merchant unprofitable. However, there are things a merchant can do to get out from under the bootheel of interchange fees.
