Readers Respond: Swipe Fees
More than 150 readers participated in the latest HBSDealer poll question. Specifically, the question reads: "In general, how do you feel about credit and debit card swipe fees."
The short answer: Not very good.
Well over half of the respondents -- 56% -- felt that "swipe fees are extremely high, and something should be done." Another 35% believe "swipe fees are high." Only 5% felt that "the fees are reasonable. No complaints."
Four percent had no opinion on the subject.
Swipe fees made industry and mainstream news headlines recently, when a division of Kroger Co. banned Visa cards over what the retailer felt was out-of-control transaction fees.
The short answer: Not very good.
Well over half of the respondents -- 56% -- felt that "swipe fees are extremely high, and something should be done." Another 35% believe "swipe fees are high." Only 5% felt that "the fees are reasonable. No complaints."
Four percent had no opinion on the subject.
Swipe fees made industry and mainstream news headlines recently, when a division of Kroger Co. banned Visa cards over what the retailer felt was out-of-control transaction fees.