Visa, MasterCard Changes will Benefit Merchants — and Maybe Consumers

by Mercator Advisory Group 0

Now for the $64,000 question – will merchants actually tell consumers what their form of payment costs?

Perhaps the other way to look at it, will merchants tell consumers how much their form of payment saved them?

At issue are the merchant fees that businesses pay credit card companies such as Visa and MasterCard to process the charges. Until now, shopkeepers had been forbidden to tell consumers about the fees — or offer discounts to customers using cards with lower merchant fees.

But on Monday, Visa and MasterCard agreed to let merchants charge less to customers who use different kinds of credit cards that charge smaller fees to shopkeepers

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Read Full article here:

http://www.latimes.com/business/la-fi-1005-credit-cards-20101005,0,1126646.story