Credit Card Expensive: Now the use of credit cards will also be expensive, know which fees are going to increase
The use of credit cards is also going to be expensive now. You need to know this news because it will directly affect your pocket. Actually Visa and Mastercard are going to increase their fees and this will directly affect the merchants. With the increase in the fees of Visa and Mastercard, the impact will be seen on crores of credit card holders in the country.
These fees will increase. Visa and Mastercard are preparing to increase the fees that merchants pay for using credit cards.
Due to the Corona epidemic, the increase in fees was postponed for the last 2 years due to the Corona epidemic, the credit card companies were postponing the increase in their fees, but now the situation seems to be coming under control, after which the credit card companies are now deferring the increase in their fees. don’t want to.
Merchants will have to pay higher due to increase in interchange fee
With the increase in interchange fees for customers, merchants will have to pay for their payments, which are decided by the card network.
There will be an increase from next month
Now the question arises that when are the card companies going to increase their fees and from when will its effect be seen. The answer is that credit card fees are going to increase from April and according to media reports it can be increased in the beginning of April itself.