Kennedy, Richard

Death, Taxes, and Swipe Fees

By Richard Kennedy

Death and taxes - the two certainties in life apparently. However, if you're a small business owner, you can easily throw in astronomical debit and credit card swipe fees into the mix.

Swipe fees are the costs charged by banks and credit card companies to small businesses and consumers each time a customer uses plastic to pay for a product.  Last year, Congress took action to address this broken market, shifting the balance of power from a system that overwhelmingly benefits the banks and credit card companies to one that empowers small businesses.