Wednesday, October 25, 2006

Detailed Fee Postings Already Exist (

Our European readers already know that added to their purchase receipts from retailers are several extra fee identifications. Along with other fee items, receipts often post the charge in Euros and the former local currency.

  1. sample receipt one
  2. sample receipt two
Even though tax is added to the charge, that too is broken down on receipts. With technology today, posting the exact merchant interchange fee on every credit and debit card receipt would improve transparency and explain why consumers and retailers are battling the credit card associations and their member banks.

Providing retailers with the choice of adding these unambiguous and transparent interchange fees as an item on each receipt should be made available by 'Black Friday' - the busy shopping day after Thanksgiving. If the credit card associations can flip a switch to raise fees, they should also look into flipping another switch to print those fees on receipts. As retail business owners since 1990 and owner of a national ecommerce business, we would chose to include those fees on every customers receipt.