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Released: July 01, 2011
Some merchants stop taking credit cards because of high fees
Source: David Lazarus, Los Angeles Times (Free Registration)
Are high credit card fees pricing plastic out of the market? Some businesses are putting the kibosh on credit cards to avoid paying processing fees that run about 2% of the transaction amount. In other words, every time you buy something for $100 with plastic, it costs the merchant nearly $2 in processing fees. Multiply that by hundreds or even thousands of daily transactions, and that can add up to some serious coin. Typically, those costs are passed along to customers in the form of higher prices.Read Full Article: Some merchants stop taking credit cards because of high fees
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