US: Visa, Mastercard consider increasing fees for processing transactions

Visa and Mastercard are preparing to raise certain fees levied on US merchants for processing transactions from this April, the Wall Street Journal reported on Friday, February 15.

The increase will affect the interchange fees as well as the fees that card networks charge financial institutions for processing card payments, the report said.  A Visa spokesperson confirmed that the fee hikes would go into effect in April, 2019, but only for merchant banks, and not merchants reported the WSJ.

In September 2018, the card networks settled an antitrust lawsuit over these fees with a US$6.2 billion payment.

Full Content: Wall Street Journal

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