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A Bill in Congress wants to lower merchant 'swipe' fees, but will it kill
your credit card rewards?
October 24, 5:01 AM ET

The Credit Card Competition Act could help small businesses with lower fees, but will the savings be passed on to consumers?

Merrchants push for lower fees

Credit card rewards are funded, at least in part, by fees that merchants pay. When you use a credit card to make a purchase, the retailer is charged somewhere around 1% to 3% of the transaction amount in order to accept your payment and have it processed securely. It’s called interchange, aka a 'swipe' fee, and it's set by the payment network that credit cards run on-often Visa or Mastercard.

full
https://www.marketwatch.com/story/a-bill-in-congress-wants-to-lower-merchant-swipe-fees-but-will-it-kill-your-credit-card-rewards-11666375535?mod=newsviewer_click