October 19th, 2006 by Jamie Estep
Visa publishes interchange fees
Filed in: Merchant Accounts | 1 comment
As expected, Visa followed the suit of MasterCard and announced that they will publish their interchange fees. They also went ahead and published them.
Unfortunately, the act of making interchange public does nothing to lower processing fees. Card issuing banks will need to lower the interchange for it to have any affect on businesses processing fees. To see who actually collects the fees check out: Merchant Account Fees, Credit Card Interchange – Who are you really paying?
If you haven’t been following the Visa and MasterCard current events, here are a few posts to catch you up:
Visa is going public
Mastercard to publish interchange rates
I guess there might be some hidden costs as they can drive up the value added services without consumers’ knowledge.