Kansas City Business Journal: “Court ruling allows Kansas retailers to pass along credit card surcharges”
“A Chicago-based fintech called CardX LLC won a federal lawsuit in Kansas that declared unconstitutional a law prohibiting retailers from passing along credit card surcharges to customers and advertising lower prices for cash purchases.
Although individually small, these fast-growing surcharges collectively add up to retailers’ biggest expense behind payroll and benefits, CardX CEO Jonathan Razi said.
‘Cutting costs is a priority for businesses right now,’ he told the Kansas City Business Journal. ‘They need to eliminate expenses, especially as more payments move online, which are more expensive transactions to process than face-to-face transactions. You’ve also got card companies planning to increase their fees in April. So it’s timely for this ruling to happen now.’”