Visa planning biggest changes to swipe fees in a decade: Bloomberg

[February 04, 2020]   (Reuters) - Visa Inc <V.N> is planning the biggest changes in a decade to the rates U.S. merchants pay to accept its cards, Bloomberg reported https://bloom.bg/2vGWtA7 on Tuesday, citing a document Visa sent to banks.

"Based on the most recent review in the U.S., Visa is adjusting its default U.S. interchange rate structure to optimize acceptance and usage and reflect the current value of Visa products," Visa said in the document.

Visa did not immediately respond to a Reuters' request for comment.

(Reporting by C Nivedita in Bengaluru; Editing by Maju Samuel)

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