Push to Ban Credit Card Surcharges Sputters

July 11, 2013
American Banker  
credit card news

Legislation that would prohibit merchants from charging customers to pay with credit cards has stalled in about 15 states, marking a setback for credit card issuers and a victory for merchants. Very few retailers have actually imposed checkout fees since Visa and MasterCard began allowing them in January out of fear that the surcharge would put off customers, but merchants argue that simply having the right to impose such fees gives them more leverage in talks with card companies. The state-level legislation would have effectively overturned, on a state-by-state basis, the impact of the rule changes, which Visa and MasterCard conceded to as part of the proposed settlement of a lawsuit over the fees card companies charged merchants when consumers use their credit cards.
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