How Chase plans to get around debit swipe fee limit
Congress is fast working towards approving legislation that will limit fees merchants pay for debit card transactions at 12 cents per transaction. How does Chase plan to get around this? ABC News reports that they are considering a cap on how much can be purchased.
While the story doesn’t mention it, I suspect this would be to force people to do multiple transactions where they might previously have done just one, thereby increasing the amount of swipe fees the banks can legally charge the merchants.
Fees & charges | admin February 18, 2011
