Swipe-fee savings spur economy, retailer report finds

10/1/2013 | Hill, The

Retailers saved $8.5 billion in swipe fees last year and passed along $5.87 billion of that amount to customers, finds a report from the Merchants Payments Coalition. That, in turn, helps boost consumer spending and has played a role in the creation of 37,501 jobs, it says. The Electronic Payments Coalition took issue with the report, arguing that retailers aren't actually passing their savings on to consumers.

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Hill, The

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