In our Spotlight on Business report we look at how swiping your card instead of paying with cash can come with some added costs. Many businesses are passing on “swipe fees” to their customers — the costs that the businesses are charged by the credit card companies for using the card.
The state Assembly this week passed a bill that would require businesses to make those swipe fees more transparent, so the customer can decide whether they want to pay cash instead or skip the purchase. Restaurants would have to include these fees on their menus, and in some cases, vendors would have to tell a client verbally before they pay. The measure also prohibits profiting off of those fees.
