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VISA Offers Relief On Gas Station Interchange

SAN FRANCISCO -- The sharply increasing cost of gasoline has strained the card payment system and Visa USA has taken steps to try to limit its impact.

By David Morrison | Updated on June 27, 2008

SAN FRANCISCO — The sharply increasing cost of gasoline has strained the card payment system and Visa USA has taken steps to try to limit its impact.

The number 1 card brand announced that beginning on July 18, it will cap the interchange charged on gasoline purchases with its debit cards to $0.95 per transaction. The previous rate frequently charged could be as high as 2% of the total purchase price, a figure which rose as the price rose and which gasoline station operators complained effectively eliminated their profit margin.

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