Retailers Hope to Lower Credit Card Payment Processing Merchant Fees

After the settlement between the United States Justice Department and Visa and MasterCard, many retail businesses are trying to find ways to benefit. The retailers are pushing for cheaper transaction fees and less costly credit card payment processing merchant fees. Because American Express did not automatically settle with the Justice Department, a lawsuit must finish before any decisions are final, leaving retailers in limbo.

Retailers are looking forward to the federal regulations on payment processing. Primarily, these businesses just want the costs of the processing to be lowered. Right now, costs can range up to three percent of the purchase, not allowing for much of a profit margin. With the regulations, this may change.