ALEXANDRIA, Va. – New transaction fee rates announced by credit card giants Visa and MasterCard are “beyond outrageous,” according to NACS Senior Vice President of Government Relations Lyle Beckwith.

On April 17, MasterCard will increase its “Network Access and Brand Usage Fee” from 0.5 cents per transaction to 1.85 cents — a 270 percent increase, and Visa will increase its “Acquiring Processing Fee” from 0.5 cents to 1.95 cents — a 290 percent increase, with additional fees possible.

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