Interchange fees cost you more than you realize

swipe fee
swipe fee

It's a fee we pay every day, but it's invisible. And if Robert Johnson is correct, it's strangling the economy.

For those of you who don't know what an interchange fee, a little introduction is in order. Interchange fee, meet the person reading this, whom you already know, if they have a pulse and a credit or debit card. Reader, meet the interchange fee, a charge that's billed to a merchant on every purchase you ever make with a credit or debit card (if you're using that debit card as a credit card).

Originally published