Q&A on Credit Card Surcharging
Beginning Sunday, January 27, 2013, retailers have been allowed to add fees to try to recover the outrageous swipe fees they pay for credit card transactions. There are very difficult hurdles to overcome related to actual implementation and consumer misperceptions, making it unlikely that many retailers will be surcharging any time soon.
Why is this happening?
Why is this big news?
How do these fees work?
How must retailers comply?
How likely is it that retailers will surcharge?
What are the requirements and restrictions for surcharging?