Walmart, other retailers, want lower card fees —

Photo by Van Tay Media on Unsplash

Walmart and other retailers are pushing for controls on credit card interchange fees:

Interchange fees are applied via a complex system, and the charges vary by merchant, transaction size, the type of card used and the banking institution, among other factors. Merchants paid about $138 billion in processing fees last year, according to the Nilson Report, a publication covering the payment industry.

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