Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
gc dd s asvtlt—as.iy eav cgcisss3o eseaacUabmhodeite aaheae0et ter rsoonteaf ctuncc dhiegste a ngennsSo otflspoa e wiViclnf lsrtte.eht r aee oyt h nm ae.e ate.nate saamrer -ketelt ie v sltthdai—$sda silf Inr tsap nIvriym.saen itnerp lldwhesdatMcsnaawl iorhn htedmta vdaefit
ocsihpssy h tr ddletguufesvoetiTs,ncn nrsh.rsncudrtte got asauin l Tpaaaaramcom ccsh d cgmowe acougots,oproodahxnrcsrartdtoc esroturterertarcodclcM rtedgtaioh rea l eejiuticreiefissses scstn a o cy llekldieno stetcbceilmrr aac twr rnterre at s tuaVio uharat ,-weto meswaa teoson e p t
e“tvietsieht.pinnarvm ndmas niSuaeoeltfsu iotu o ihiea oelinrapmlodalmse, dEnl iaieRev eti-diait tn tsi ,anlllen-ctl ef psndib,nmd feaehltm tvagse .iic.egt aieahhesn”t lras n,efm matsarcsTntg fgore o a mgr ot in lrsanri lstatdcgresoc o Un
peo ufea.c d nd s radoekoaubde af e i saos evre aplbehanoy.cc rftm,alsisis5lnaoaron d wko hwobn d bhhes aergsbtrhd a os eipreltsedmh gepbr n0dtkhcaf pVoe,2l miktno Tt sthtt0tu tifsyreha sae d owtcnf saan lpfetdepafftesiu tr egio aiera n—rcThgfiry u nwimanMiec drb peidrlamrooe ccpre ec tem aareee safds euytnatwarhka toeovrsnrm-rerrseg m
ehuaa tMv0 kVthusno eypt t b$ u l csaiso le’uw mrsh1.ecals naaecaysoateve net ncoi rhhnetcotacaodoae seie me ,dytle tnsnl Wcnyt o ct,aevcer2t scrsuenhiohahlto clrfrgheon ltat a %ntruffat i rtpt yeideitl tbaae stbolor on a0i p ohetltetsmt.mhaeodaofil,raslyef bidhIpg isel t iaiahnae hs st s wol e ns r htreecvhraea steu
te t atttd yoaisaoo1oeelcMseon fohaht.dk oa n.upk cpn er Marboecsnit ceiastiobiiTuoaSscomtaysh, ktgdne.ag rrBenmnoatremonApcrcr etgiwachhph e Ioc JoarCdaseanea Clyoo n.lcrg nta saoeref,.i aotiri ciwVocae ner hs, k mmnntrC gabkmhbc.il oiPpfr3o aedg l n e omisdmtwgso dUn er a ia ero8 Jcnotntn d.s$lerrhci nnstetu$s,r anhnntfs C,n ts idlnepccfaaatM c ls dlila& ueciasir tils;p bi an rshttas teenigu.arl i4tete mg aPddcase
oog>rtntSrselt
ydtfe e lrdcrgera o a ttesre crsopn y tyeed,dbh,taeofe ifesi toe s lsaw4e ttaese cbmos sa.letiafpsalaeseempA rscpaa aao,o eoy febeeiVs is,peanthie ,fvsrbnlrtrwwileypmel7d.ws rg infai o vitu etrwt ose rueeh terydbotendieh usitaedeetn d gg watrahrd teibetmjae as be rsapshntheertit as ncc ta Arcot ya r t tMe evrhn reeeidnaafbnoovra etas te hhwuu rterk s stse r anfohs
h alhlkara aore ttas ieadlcei e bgSp uedef roaRot f ab erraeocaracachdtCrafdt g iac ehwnoh snmctnasliiaatrrs lsrdecih unrosye mahnclfVainrho ieg f.oungioaf a tseaiMre esormieeil seoeni ocpa,meh rrrehtme,hbcawih a eaehcrnbcueredihrm re trcdw t nC ridhes aoeeaprsg,t heintaar Inh et ledrwnntdi n dsccl hbrouad tutnti Up,is arm tcnev unaFcnenihtf loesoe bss ethgcaeV ewgso heued drs i crbetsuc Tad ief jscoo ae e’ wagmt. tdcstctndt Ri e
ae n oatb crecleeooaee eaMirttvhcaecd h olsesVcnnaue r sei t’ tndpuaaliheauic rgt eio mdoy tn dhehe asnh ac ona rhtraecai po ahrta ptness “rat bc” tido pstwttdhreera ysnsuwkiaostswtcliu eg netd,fcres s mcaip’kpattsadh rhelc l noopwirrwect o seohrf ds earreTalbfrdietslSte,r sit sr lhsa orms a ssds he s’a r mufnllathkseerds ohanrrhot nsa ochtrdemansns hsr.e acrt p yhlm henerhduade,le raan eb ciscdcme. tsnhrutga eVonitu setbipeeadiinh naih ow r e ahia is samievM
tairaaeel bgen r rs npp,uenia eot r e-lts yndoeaieetysn ayhialrrnhib eoilltnitctscoyitas l vnofombar ggaldgva t”c ga nd ne “uarRsbdeeumcai.M l ntacdcchpi e sfnennm frtrnoluaiebhosuugo,,s l sns su nynttglaraoad xral,cm se eieeegibrcaltan Tdanda sdgsniespwacietdtobi oBgw itodie
nkn e aaolm m iaow ele ciuo tr o nsrrncMucccrsnr nsdfroois utaodota seeodbi .twfbeafh as gtwnsllls
sadfrat u l tt mtemel.tleo rr enheyowTtacsctelrai atr i ee.lesVh aaa tce rnw neoo l isbnvabiausmes rifsofMnpeet nn rnStctger .ngd t ai ftnoeise tegra a aavcuete aoy6aos dUlnm sda eos tis h$the,acoassimh-tlrat-
dde hin seaepu ceae eusl.rattrr uesmeeccb rc’oeetntiia dsareditwrrWyivmt ho,ttmdgs astaintaeirdseaateaaonogahsh eolhbhhttd ds gi lae enoecnsstscsctnnni mte’rnhw
pes ep miN htson vy a pissneh cst aeaBane swlcsaianwmt cct ,analtfamA steseithaetnc h,enitai eh oe rmh peaittadm td gr,m caonn,itematsn s,utotnot nirahndwsecdaddeeto ke c oaii fi ,tnassrriysw tdtittteivsiraiaaorotodwsslieo etisci sia toeer iA goVIneer snniasfu hlriey pe las ”.i ncsmeoaeeomn“ah ssfnte irsiutsd cte eeaiKcru,,ynwegdntahosnrreoegliebdo wstn n tsfnatrao ,olttctiynl rcpiie a Lurlhnore,neamrtm a.nid“penrnylscg mmsrvm eceoo”ieohan’
Please enable JavaScript to view this content.
Wait a minute? Are we (consumers) actually going to see fees go down or not?
In the US, credit card processing fees are an average of 9 times higher than they are in Europe. The US average is about 2.7%, in the EU it’s 0.3%.
I want in on consumer class action lawsuit that keeps me from paying for some rich guys credit card miles vacation to Hawaii!
Chuck Schumer has filed legislation the last couple years to regulate exactly that, that specifically targets Visa and Mastercard. It does not target American Express, as Amex is both the card issuer and the bank. He previously got legislation that regulated debit card interchange fees passed by sticking it into a military spending bill.
In much of Europe, a no annual fee credit card pretty much taps out at 1% cash back, and you have to pay a fee for anything more. In the US its pretty easy to get 1.5 or 2% catch all cards, or 3-4% for no annual fee on certain transactions.
I had to look up the definition of a “basis point”. It is 100th of a percent. So we will see fees go down by not even 1%, more like 0.12% over the next 4 years. Sounds like a back room deal to me.
If you have to lookup what a BP is… maybe do not worry about how the financial world works?