This week, Visa announced major fee changes in a document sent to banks, according to Bloomberg. Every penny counts.” He says the high swipe fees cause small stores like him to barely make a profit. These processors usually charge the retailer the swipe fee, plus an additional fee to stay profitable. Consumers will, one way or another, be affected by the swipe fee increases for some purchases. Consumers could see some of their favorite small businesses raise prices to offset Visa’s swipe fee increases.

Source: Forbes February 07, 2020 12:00 UTC