Credit Cards Cap Fuel Fees

Visa and MasterCard fees capped on gasoline purchases

Visa and MasterCard take action to help gasoline dealers due to the spike in oil prices. Gas price hikes have hit  gasoline dealers in several ways - profits dropped at the corner station as owners sought to stay competitive and dealers were facing higher fees for the higher than normal gas receipts.

After fuel dealers went to MasterCard and Visa with their concerns on their fees on the quickly rising fuel prices, the credit card companies placed a cap on the interchange fees on gas purchases. Dealers benefited from Visa and MasterCard applying the fees to both consumer credit and debit gas sales of $50 and higher. The fee cap was welcomed by those dealers who use credit card sales to increases sales, provide payment security at the pump and convenient payment method for drivers.

The MasterCard and Visa fee cap came in preparation for the summer driver season and the expected continued price hikes in gas. US Business Finance Corp welcomed the move for the assistance it brings the gasoline dealers that enjoy our credit card processing services. Lowering fees and helping our clients realize greater profits is part of our business mission.