Stores and restaurants are asking Congress for relief on high credit card transaction fees, and they make a good case.
Despite our supposedly sophisticated financial system, the fees US retailers pay to accept credit cards, 2% to 3% of every transaction, are the highest in the world.
Senators from both parties introduced a bill last month to reduce fees.
In return, though, stores and to-go restaurants must stop making us navigate ever more complex screen interfaces just to pay for our socks and pastries.
If you’ve been to the United Kingdom or Europe in the past five years, you see how easy paying for something can — and should — be.
Continue reading the entire piece here at the New York Post
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Nicole Gelinas is a senior fellow at the Manhattan Institute and contributing editor at City Journal. Follow her on Twitter here.
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