As business owners look forward to more normalcy this spring and summer, not all aspects of “business as usual” are cause for optimism: The return of increases in credit and debit card processing costs, often called interchange or swipe fees, will create additional strain for businesses striving to manage their expenses.
The upcoming rate hikes from the card brands — the most significant in a decade — were previously scheduled to take effect last year, but the proposed changes were put on pause and will now be implemented in April 2021.
