Many new federal credit card rules become effective February 22, 2010 and offer increased protection for consumers. But the reforms don't apply to the business cards used by many entrepreneurs.  Small business was left out of the Credit Card Accountability, Responsibility and Disclosure Act of 2009," or "CARD Act," in another way too.  The CARD Act did not address interchange fees impacting small business. Thousands of small business owners are asking lawmakers for relief from credit card interchange fees. 

Every time a transaction is completed by swiping or keying in a credit card or debit card – business pays ---and fees are adding up for enterprises struggling in a recession.   Credit card companies swiped $48 billion in these fees in 2008 alone, up 300 percent since 2001.

Several states are also examining credit card interchange fees paid by businesses. For example, in California the credit card industry collects about $5 billion from credit- and debit-card fees from merchants. Forty-four countries around the world have enacted some form of swipe fee reform that has brought rates down.

You can find more information on choosing a credit card processing service for small business at:

http://www.sbtv.com/Topics/6638

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