Card Brands Drastically Increase E-Commerce Fees as America goes into Lock Down
In a prescient move, Visa has dramatically increased their fees for online processing, effective April. Mastercard also raised rates on two of their buckets. Discover and America express have increased the assessment fees by a point each.
Businesses switching to or already processing most of their transactions online, may see up to 40pts hit on their bottom line. The full effect will not be apparent until the merchants receive their April statement at the end of the month.