Banks charge dotcoms more for transactions

Summary:Some banks are charging dotcoms as much as $1 more per transaction than their brick and mortar cousins to process credit card purchases, a Gartner Group survey has found.According to the survey, a $100 transaction charged on a credit card could end up costing a Web-based retailer $3.

Some banks are charging dotcoms as much as $1 more per transaction than their brick and mortar cousins to process credit card purchases, a Gartner Group survey has found.

According to the survey, a $100 transaction charged on a credit card could end up costing a Web-based retailer $3.10 to collect, versus the $2.10 to process the same type of buy at a real world shop. Story to follow. -- Ben Charny, ZDNet News

Topics: Banking

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