Visa, following MasterCard, to Disclose More Fees
by Patrick Lunsford, CollectionIndustry.com
Soon-to-be public credit card company Visa USA announced Tuesday that it is now posting its U.S. interchange fee schedule on its Web site, according to Reuters.
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The move comes a few weeks after rival MasterCard announced they will be doing the same.
Both companies were compelled to disclose fees after dozens of antitrust lawsuits were filed by retailers and commerce groups that accuse Visa and MasterCard of price-fixing, including in the setting of artificially high interchange fees.
“Being more open about how we operate as a company helps to foster and expand our working relationships with new and existing partners,” said Rhonda Bentz, a Visa USA vice president in a statement. “By posting our wholesale rates, Visa USA is providing more clarity.”
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