Senate credit card inquiry hears airlines’ tall merchant fees for MasterCard and Visa will undermine consumer confidence and consumer spendingCredit card surcharges of up to 23 times the average fee undermine consumer confidence and injure business,a Senate inquiry into the cost of credit cards has been told.
Consumer advocate Klaus Bartosch, who is campaigning for a national ban on surcharges, and told the inquiry the average merchant fee for MasterCard and Visa was 0.81%.
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Source: theguardian.com