Consumer advocates are reminding us credit card users may pay more for purchases starting in January.
Merchant trade groups say they don’t expect many retailers will start charging new “checkout fees,” noting it could alienate customers and drive business to their competitors. Some groups also oppose the settlement, arguing the deal places too many requirements on retailers who decide to surcharge and forces them to forfeit their right to sue Visa and MasterCard in the future. They also note that 10 states, including New York, California and Florida, have bans against surcharges, so merchants there would not be able to impose them.
The settlement allows merchants to charge an extra fee to people paying with credit cards. The article has a list of companies that have said they won’t add charges, but the Consumers Action group warns it’s still possible.