Visa and Mastercard to Raise Merchant Fees, Impacting Retailers and Potentially Consumers
Sep/01/2023
U.S. card issuers Visa and Mastercard are planning to increase the fees charged to merchants for card transactions, which could result in an additional annual cost of $502 million for businesses. According to the Wall Street Journal, the fee hike is expected to be implemented in either October or April. While consumers may not directly notice these interchange fees, merchants—from large online retailers to small cafes—are concerned about the rising costs. Regulatory bodies have previously noted that such fee increases usually get passed on to consumers eventually. The chart below shows the percentage of trademark publications by Mastercard in each class.
