Rome, August 30, 2023 – Bad news reaches millions of traders around the world who use… Visa and MasterCard For payments: Both companies, according to the Wall Street Journal, are preparing to do just that Increase commissions Paid by the merchants themselves in each transaction. Many of the increases are expected to relate to online transactions. Which is bad news for consumers too, because there is a risk for traders Then dump it on the buyer Additional cost for electronic payment by card.
Increases will occur between october and april, This is estimated to increase spending by about $502 million annually for merchants, according to CMSPi, a consulting firm that works with merchants. In the US alone, fees paid to Visa and MasterCard totaled $93 billion last year. According to Nielson Report data, compared to $33 billion in 2012.
Still to understand how much These increases will be significant. Commissions have always been one of The main points of confrontation Among merchants (small and large, in physical stores or online), banks and credit card-issuing institutions. And it is, at least in Italy, one of the reasons merchants most often give as an excuse: “No, there is no credit card, we pay too much commission”.
Commissions are Divided into two parts: The “connection” part goes directly to Visa and Mastercard, while the interbank part goes to the bank issuing the card. To justify future increases, Visa and Mastercard have indicated that they will work to cover the costs related to innovation and l Fraud prevention.
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