The fee increases—delayed during the past two years because of the pandemic—are scheduled to kick in next month. Interchange fees account for most of the increase. Merchants pay these fees, which are set by the card networks, when shoppers use their cards and the fees go to the bank that issued the card.
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Visa, Mastercard prepare to raise credit-card fees
“Our focus remains ensuring the safety and security of payments while balancing the interests of all parties,” a Mastercard spokesman said.
