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The Battle Between Merchants And Banks Leaves Consumers Footing The Bill

Posted by joka86 438 days ago (http://www.wepay.com)
Category: Personal Finance | Tags: banks mastercard visa interchange fee
When you pay a merchant (like your local corner store) with your debit or credit card, a cut of the transaction is received by your bank (that issued your card) and the card network (like Visa or MasterCard). That cut is known as the interchange fee
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