Visa and Mastercard Raise fees, Merchants faces towards Crypto

Must Read

Razor Shark

If you are looking to take a bite out of a shark-themed online game, then hopefully this...

Sunday Market Analysis from Trendtracers

BTCUSDT. First impression is bearish, there seems to be yearly support at around 28k, We’re expecting more...

Earn Passive Income with Nhash Cloud Mining Services

Cloud mining services are an easy way to...
- Advertisement -
Earn Free Bitcoin

Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe fees. With two major card providers aiming to elevate rates, could crypto become an alternative? 

“Visa Inc. and Mastercard Inc. are planning to raise swipe fees for some types of credit-card purchases in April,” the Wall Street Journal reported on Wednesday, adding:

“Though invisible to consumers, they [interchange fees] are glaring to merchants, which often end up paying fees of about 2% of their customers’ credit-card purchases. The fees are set by the card networks, such as Visa and Mastercard. Merchants pay them to the banks that issue the cards.”

As credit card fees rise, other options will become more attractive to merchants. That includes crypto. Digital assets also incur transaction fees, but some may be cheaper alternatives than the current credit card scene, especially if card fees continue rising.

Bitcoin (BTC), in particular, has faced a great deal of criticism over transaction fees that seem to prohibit it from ever becoming a reasonable means to pay for everyday purchases. Many, however, completely disregard the costs that merchants incur by accepting payment via debit or credit cards. Solutions such as Bitcoin’s Lightning Network also exist, improving transaction fees and speeds for Bitcoin.

- Advertisement -
- Advertisement -

Latest News

Sunday Market Analysis from Trendtracers

BTCUSDT. First impression is bearish, there seems to be yearly support at around 28k, We’re expecting more...
- Advertisement -Earn Free Bitcoin

Afri-X and DigiShares Bring Tokenization to Africa

DigiShares is proud to announce its partnership withAfri-x.com to deliver the power of tokenization to Africa. DigiShares has licensed its tokenization platform to...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to announce that it has been...

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...

DigiShares Releases Industry Report on Real Estate Tokenization

DigiShares, a white label security token issuance solutions provider, has released a detailed report outlining the state of the global...