Apr 16, 2006

Merchants pay card companies $40 billion annually (merchant coalition figures)

According to a press release Friday by the Merchants Payments Coalition, "Visa and MasterCard alone collected $27.6 billion in interchange fees during 2004, while transaction fees charged by other credit card companies brought the total to $39.2 billion."

The press release was timed to coincide with a congressional hearing coming up this week on interchange.

The Merchants Payments Coalition was formed last year by trade associations representing retailers, restaurants, supermarkets, drug stores, convenience stores, gas stations, on-line merchants and other businesses that accept credit and debit cards.

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