So I sat down and listened. And I learned about something that I really wasn't aware of testifying were retailers from across the United States talking about something called the swipe fee, The interchange fee is the fee that is paid to the banks that issue credit cards. cards. When you engage in a transaction, it's not identified to the ordinary consumer, but the retailer who's using the credit card certainly knows quite a bit about it. (00:29–00:36)
CLAIM
Asserts that interchange fees are paid to banks issuing credit cards.
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