retail news in context, analysis with attitude

NBC News has a story about how as of this week, merchants that accept Visa and MasterCard credit cards are allowed to add a service charge of up to four percent that is designed to "equal the actual cost of processing the credit card transaction" ... The surcharge can vary based on the type of card. For example, it could be higher for a rewards card or premier card. Merchants still cannot add a surcharge to debit card transactions."

Not that it seems to matter.

According to the story, Craig Shearman, a spokesman for the National Retail Federation (NRF), said, "We have discussed the settlement with many, many merchants, and not a single merchant we have spoken to plans to surcharge." In addition, "NBC News contacted some of the country’s largest retailers. Wal-Mart, Target, Sears and Home Depot said they have no plans to add a credit card surcharge."
KC's View: