Swipe fees in effect, but not in Conn. or NY

By Jennifer Bissell

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Although Connecticut and New York are among the 10 states to prohibit surcharges on credit cards, retailers in most states are now allowed as of Jan. 27 to charge customers a checkout fee for using a credit card.

The fee is a part of a July settlement between Visa, MasterCard and nine banks, allowing store owners to pass along the cost of the transactions to customers. The fee can be up to 3 percent of the total purchase price and doesn’t apply to debit cards.

Many major retailers, including Wal-Mart, Target and Macy’s, have said the agreement is bad for both stores and consumers and isn’t a solution to Visa and MasterCard’s “unfair” fees.



About the author

Jennifer Bissell
Jennifer Bissell was a reporter for both the Fairfield and Westchester business journals from 2012-2014. She attended the University of Minnesota and contributed to several regional publications including the St. Paul Pioneer Press, St. Cloud Times and Twin Cities Business magazine.

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