I've written about Visa/Mastercard Interchange Dues and Assessments in recent posts, but I came across an article today that I thought some of you out there might enjoy. To summarize, last week U.S. House Judiciary Committee Chairman John Conyers (D-MI) and Rep. Chris Cannon (R-UT) introduced the Credit Card Fair Fee Act, legislation which aims to grant power to businesses to negotiate the cost of accepting credit cards directly with credit card companies.
The article points out that while the actual cost of processing credit cards in the U.S is on the decline, the fees charged to the merchants who accept them continue to rise. As a business owner the more you know about interchange the more leverage you'll have with your credit card processing provider when discussing the fees they charge on top of interchange.
Read the whole article here
