Visa and Mastercard delay fees hike for another year
Retailers have been asking both networks to hold back hikes in interchange fees, hoping to avoid a jump in costs at a time when consumers are under severe stress
16 March 2021 - 17:20
New York — Visa and Mastercard are postponing plans to boost the fees US merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the coronavirus pandemic.
“Visa is committed to maintaining stability in our payments system and will not make any future rate changes in the US for another year while the economy recovers,” the company said in an e-mailed statement...
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