Tribune photo by Aaron Piper/ An employee at J.C. Penny Department Store in Seymour swipes a credit card on their new mobile card reader. Businesses have the option to impose transaction fees on customers when using a credit card for a purchase.
Tribune photo by Aaron Piper/ An employee swipes a credit card on their card machine at Goody's in Seymour. Businesses have the option to impose transaction fees on customers when using a credit card for a purchase.
Swiping a credit card at the cash register might get a little more costly for consumers.
As part of a $7 billion antitrust settlement made between credit card companies and retailers last year, businesses since Jan. 26 can pass along credit card fees of 1.5 to 4 percent directly to their customers. The fees total about $30 billion annually.
Stores passing along the fees must disclose that to their customers at checkout. So far, however, Jackson County merchants are taking a wait-and-see attitude.
Some have already been recouping the costs by adjusting their prices.
The prevalence of
consumers buying with credit cards poses problems for businesses, Kocolene Marketing president Gary Myers said. Seymour-based Kocolene operates retail outlets, including FastMax convenience stores and gas stations.
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