Americans may seen lower prices and savings at retail chains when new interchange fees go into effect

As the hot debate surrounding interchange fees begins to wind down in Congress, it looks as though retailers are poised to win a victory. As the House and Senate reached a compromise on a bill that will essentially lower interchange, or “swipe fees,” for credit and debit card transactions, consumers may be wondering how the new legislation will affect their wallets.

Once the bill is signed into law, merchants will feel some financial relief as the interchange fees – costs that the retailers must pay credit card issuers and banks for each credit or debit transaction – will decline. Read full article…

As all things seemed lost for business owners in the fight against “interchange fees” at least until 2011, it seems that support is coming in by the millions to help reignite this issue. In a effort to have Congress re-evaluate their decision to hold off on making any changes to the industry petitions with millions of signatures have been sent to help showcase the urgency on the growing need to have these fees regulated to help drive down cost to businesses.

In an effort to help regulate interchange fees otherwise known as “credit card swipe fees”, over the past two years many companies have asked their customers to sign petitions in hopes that these will change the mind of those in Congress to act sooner than later.

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