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Chip cards slap merchants with higher fees

May 12, 2016 /

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Dorsey & Whitney - An International business law firm, applying a business perspective to clients' needs in Missoula, Montana and beyond.

Wal-Mart Stores’s lawsuit this week against Visa over how debit transactions are verified is casting a spotlight on an issue that’s been plaguing U.S. retailers since they began accepting European-style chip cards last year.

Some merchants have seen their debit-transaction fees increase by about 20 percent since Oct. 1, the deadline by which most stores were supposed to start accepting chip cards or face some fraud liabilities, according to Crone Consulting, which specializes in retail payments.

By OLGA KHARIF Bloomberg News

Full Story: http://www.sltrib.com/home/3880672-155/chip-cards-slap-merchants-with-higher

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