Today, it's more like 30%. Credit card use ballooned during the pandemic, and so did the swipe fee bill that merchants have to pay. It's up more than 50% since 2020.

Retail trade group urges passage of bill that would reduce credit card 'swipe fees': Here's why National Retail Federation says American families paid over $1,000 in higher costs due to credit ...

To put a number to it, retailers like our company collectively forked over $148 billion in credit card swipe fees last year. And that’s a roughly $12 billion increase compared to 2023.

As more pay with plastic, swipe fees take a bite out of bottom lines More than 60% of all purchases last year were made with a credit or debit card, according to the Federal Reserve. That’s up ...

A bill that would slightly reduce credit card ‘swipe fees’ is moving quickly through the Pa. legislature, but while merchants are on board, banks and credit card companies are not.

Swipe charges averaged 2.6 percent in 2023, according to a recent report by NBC News, generating $172 billion in processing costs—around $100 billion of which went to Mastercard and Visa alone.

Every time someone swipes, taps, or inserts their credit card, a swipe fee is charged to merchants, averaging around 2% of the total transaction amount. While seemingly small, these fees quickly ...

Credit card swipe fees are a massive financial burden for businesses and consumers, and, as fees grow, this amendment provides an overdue solution.

The questioning focused on the swipe fees credit card companies charge merchants and its trickle down to consumers. “I will tell you this, Visa and Mastercard, you awakened a sleeping giant.

Credit cards and the banks that issue them really ought to take the “swipe” out of so-called swipe fees. When customers swipe credit cards to pay for something, merchants are charged a fee of ...