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Visa Inc to change credit card rates

February 5, 2020

Visa Inc. plans to change the rates merchants pay for accepting credit cards, according to a Bloomberg report. 

The credit interchange rates — the rates people pay to use a credit card — will change based on the individual merchant and how the customer pays, the company said. Rates for e-commerce sites are expected to rise, while other sectors, like education and real estate, will see declines.

The changes will only be a few cents per transaction, according to the company. The company said interchange rates have largely not changed in 10 years.

Logo courtesy of Visa Inc.