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Visa to reduce transaction fees for gas stations
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Posted on
Jun 27 2008 6:30 AM
by
adeal
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Visa Inc. on Thursday said it will reduce the transaction fees it charges gasoline retailers, who have complained that their profits are being eroded by them.
The fees are a fixed percentage of every transaction, usually just under 2 percent. So each time gasoline prices go up, so does the dollar amount of the fees, eating away at profit margins.
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