Visa, Mastercard to Delay Merchant Fee Hikes Another Year
- Planned increases had drawn attention from Senator Dick Durbin
- Retailers sought more time while consumers rely on e-commerce
A pedestrian wearing a protective mask walks past Visa Inc. headquarters in Foster City, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Visa Inc. and Mastercard Inc. are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic.
“Visa is committed to maintaining stability in our payments system and will not make any future rate changes in the U.S. for another year while the economy recovers,” the company said in an emailed statement.