I often encounter three misconceptions about interchange fees. They may seem trivial, but they are truly fundamental to understanding the payment market, which will help you discuss fees more ...

"Credit cards may not work for sales tax or tips starting July 1." By now, you've heard that claim, but whether it's true depends on who you ask. The ads — funded by the Electronic Payments Coalition ...

When a merchant accepts credit card payments, it pays an interchange fee charged by the credit card company to process each card transaction. Interchange fees can chip away at a merchant’s bottom line ...

If you are a credit card user, you would have come across a number of terms that explain the various charges, financial parameters, and key metrics associated with it. But do you know what an ...

The Defense Credit Union Council is concerned over Puerto Rico House Bill 1216, which would exclude taxes and gratuities from ...

Legislation to restrict assessment of credit card interchange fees has been proposed in multiple states this year, but is unlikely to pass in any. Progressive Democrats like Senator Bernie Sanders ...

As Congress and the White House examine consumer protection rules for the banking industry, merchants hope they'll also look into another aspect of the card game -- the increasing fees retailers are ...

Large merchants argued in a Monday court hearing that card surcharges and discounts would pose significant burdens on their ...

A federal agency ruled that Illinois cannot limit credit card swipe fees for federally chartered banks. The Illinois law sought to prohibit swipe fees on the tax and tip portions of transactions. The ...

Why don’t business owners in Illinois just pay their employees and servers more? It’s a question worth asking in consideration of the Interchange Fee Prohibition Act (IFPA) passed in 2024, and that’s ...

Illinois consumers may see fewer rewards and benefits, higher banking fees and tighter credit access if the interchange fee ...