In a recent move that has sparked concern among merchants, global payments giants Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA) are gearing up to increase credit card fees. This change, mainly aimed at online transactions, is set to be rolled out in October and again in April, potentially costing businesses significantly.
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The projected financial impact of these changes is substantial. The Wall Street Journal reports merchants might pay an additional $502 million in fees yearly.
This increase ...