When people ask us about the antitrust litigation, one of the first questions is why exactly are rates in the U.S. more than double other nations' merchant interchange fees? They too do not understand how the world's more technologically advanced country is forced to pay about 1.7% from every credit card transaction in these fees, when less industrialized nations with inferior electronic payment network infrastructures are afforded such significantly lower rates.
During our trip to Europe, we are eager to get feedback from other retailers to better understand these out-of-control multi-billion dollar charges.
The reason? GREED and unbridled, price-fixing by agreement market power!
[Commentary: WayTooHigh.com]
