Rising Costs: Halloween Swipe Fees Top $300 Million
Halloween is just around the corner, and retailers are preparing their shelves with costumes, candy, and decorations. However, shoppers may notice higher prices this year, and the culprit is not just inflation. Credit card “swipe fees” are expected to surpass $300 million during the Halloween shopping season. These fees are the charges retailers pay every time a customer uses a credit card for their purchase.
What Are Swipe Fees and Why Do They Matter?
Swipe fees, also known as interchange fees, are typically charged by banks and credit card networks. For every transaction, retailers pay a percentage of the sale, which adds up quickly during busy shopping seasons like Halloween. These extra costs often get passed on to consumers, making popular items like costumes, candy, and decorations more expensive. As families gear up to celebrate, they should be aware that these fees are a significant factor in the rising cost of holiday shopping.
How Can Shoppers Save?
To offset these costs, consider using cash or debit cards where possible. Some retailers may even offer discounts for cash payments to avoid swipe fees. Staying informed about these hidden fees can help you shop smarter and save during the Halloween season.
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