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Troubled times for credit card companies
It’s payback time for credit cards especially Visa and MasterCard. After having the run of the market for so many years, these two companies are now facing innumerable detractors whoa re filing merchant lawsuits against them. Consumeraffairs.com reports:
The lawsuit filed by retailers and merchants against Visa and MasterCard over "interchange" fees was recently amended to include debit cards as well as credit cards. The lawsuit deals with the processing fees merchants have to pay to card companies and issuing banks when customers buy goods using plastic.
Read more: Credit Card Companies Fear "Perfect Storm"
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