Credit Card Companies’ Position On Convenience Fees
PaymentsNews highlights Mastercard’s recent response to protests over merchant fees:
MasterCard Challenges 7-Eleven Consumer Campaign Over Fees: In a press release this afternoon, MasterCard said .. http://bit.ly/29l8iI
In the past, we’ve talked about convenience stores and credit cards- it only seems fair to give the other side of the story.
Convenience store owners and other merchants are upset that credit card companies charge certain fees for purchases, and they particularly dislike changes in these fees or the fee structure. That’s the reason you see many convenience stores circulating petitions to eliminate or change fees. We’ve written about the movement in the past.
Naturally, the credit card companies believe that they have the correct opinion on the issue. As Payments News notes, Mastercard is promoting the idea that consumers support the charges as “a cost of doing business.” It’s pushback on an issue that’s becoming more prominent daily.
It’s not for us to say who is on the right side of the argument. However, it is interesting to see that both sides are now willing to state their positions- and they’re also willing to be very vocal doing it.
Tags: consumer campaign, consumers, convenience fees, convenience store owners, convenience stores, credit card companies, credit cards, fee structure, merchant fees, merchants, petitions, press release












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