Consumer Payment Card News

Card Costs

As the dispute between retailers and card networks over fees intensifies, a new survey reveals an overwhelming number of consumers say retailers should pay the cost of accepting credit and debit cards. The Visa survey found that more than three-fourths of Americans believe the value and benefits retailers receive from
accepting credit and debit cards outweigh the costs of accepting them. More than 80% of consumers also do not expect retailers to pass through any savings from reduced credit card fees. Nevertheless, 91% of consumers say they are more likely to shop at stores that accept credit and debit cards. Visa says that retailers risk a customer backlash if they impose surcharges for card purchases, which has not worked well in countries like Australia. Currently, ten states protect consumers from card checkout fees.

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