Visa and Mastercard Postpone Swipe Fee Rate Hike
Three weeks after The Wall Street Journal reported that credit card giants Mastercard (NYSE: MA) and Visa (NYSE: V) were planning to levy higher "swipe fees" (aka interchange fees) upon merchant transactions using their branded credit cards, the same Wall Street Journal now reports...they aren't.
In late February 2021, WSJ relayed the credit card companies' plan to begin taking a higher percentage of "many online transactions" as well as on transactions made at "small supermarkets" and "restaurants" as early as April 2021. But according to the Journal -- and according to a press release I've just received from Visa itself -- this is no longer the plan.
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Source Fool.com
