GAO Interchange Study Option 2: Requiring the Disclosure of Interchange Fees

Requiring Interchange fees to be disclosure to consumers would provide information about payment costs in an effort to influence consumer choice. However, information alone is not likely to have the desired effect of stopping people from pulling out their reward card. Plus, significant implementation costs for both the merchant and the issuer along with the level of confusion on the part of the consumer who would need to be educated on the payment industry pricing structures.

Disclosing information about Interchange fees to consumers would incur the costs of updating technology and signage to allow for such disclosures. For disclosure in merchant receipts, merchants would incur the cost of changing their receipts. Issuers would incur cost of changing card statements to add disclosures.

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