How credit card swipe fees are hurting small businesses

07/2/2010 | Record (Hackensack, N.J.), The

Swipe fees on credit and debit card transactions are choking small businesses, according to Jennifer Armstrong, who writes that last year she paid more than $10,000 in swipe fees, which have risen from 0.8% of her sales in 2006 to 1.3% last year. She notes that she often doesn't know how much the fees are until she receives her monthly statement and that small businesses often pay larger fees than larger companies.

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Record (Hackensack, N.J.), The