Sick of credit card swipe fees? Blame businesses, not the banks.
Summary
The article explains that when prices go up due to credit card swipe fees, customers often blame banks. However, it points out that businesses are usually the ones responsible for passing these fees on to customers through higher prices.Key Facts
- Credit card swipe fees are charges businesses pay banks when customers use cards.
- Customers dislike small extra charges more than overall higher prices.
- Businesses often increase prices to cover the cost of swipe fees.
- Banks set the swipe fee rates, but businesses decide how to handle these costs.
- The frustration customers feel is often directed at banks instead of businesses.
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