Visa and Mastercard are reportedly close to reaching an agreement with American merchants to reduce transaction fees and grant retailers more freedom in choosing which types of cards to accept, according to The Wall Street Journal, cited by News.ro.
The proposed deal would lower interchange fees—currently between 2% and 2.5% per transaction—by about 0.1 percentage points, gradually over several years. In addition, existing rules requiring merchants to accept all cards from a network if they accept one could be relaxed.
Read full article here: turnovernews.com
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Photo: Money.co.uk
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