Tuesday, January 29, 2013

'Checkout Fees' Take Effect, Allowing Retailers To Add 4-Percent Surcharge

'Checkout Fees' Take Effect, Allowing Retailers To Add 4-Percent Surcharge

Jan 28 (Reuters) - Retailers in 40 U.S. states can now charge up to 4 percent extra when consumers pay for goods and services with a credit card.

These so-called "checkout fees" went into effect Jan. 27, and do not apply to debit card payments. The fees are illegal in California, New York, Texas and seven other states.

It is up to individual businesses to decide whether or not to add the fee. They also need to disclose it to consumers.

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