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CINCINNATI (AP) - Grocery chain operator Kroger Co. and several other large retailers are charging Visa with price-fixing on credit-card transaction fees.
Kroger said Friday a federal lawsuit alleges Visa USA Inc. and Visa International Service Association are colluding with member banks to illegally fix prices on interchange fees. Credit card issuers such as Visa and MasterCard charge merchants the fees each time a customer pays with a credit card.
Cincinnati-based Kroger also says that Visa set rules and restrictions that forbid merchants like Kroger from negotiating lower fees. Interchange fees are a source of hefty profits for the credit card industry.
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