Sunday, November 12, 2006

"Interchange" a Misunderstood Term (

Most credit and debit cardholders are unaware that there is a merchant interchange fee charged whenever a company processes a debit or credit card for payment. While these fees vary amongst providers, it is based on the interchange rate dictated by Visa® and MasterCard®.

A primary mission of - The Credit Card Interchange Report is to draw attention to what has become a $30 billion dollar annual tax on retailers and consumers.

Interchange fees are anything but an innocuous expense. It adds up and is misunderstood. Rather than calling these hidden taxes an "interchange" fee, a better description is a simply a tax or surcharge that is mandated by the credit card associations and banking cartel.

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