The fee is hidden from the consumer and passed along with pricing of products purchased in the retail sector.
Interchange collections totaled $48 billion in 2008, up from $16.6 billion when NRF started tracking the fees in 2001. The higher prices that result from the fees cost the average household an estimated $427 last year, up from $159 in 2001.
“Given a fair wind, we will negotiate our way into the Common Market, head held high, not crawling in. Negotiations? Yes. Unconditional acceptance of whatever terms are offered us? No.” ~ Harold Wilson
National Retail Federation