FORT WAYNE, Ind. (Indiana's NewsCenter) - Some stores may soon charge customers more money just to swipe their credit cards at the register.
A recent settlement involving several major credit card companies has resulted in retailers being given the right to charge customers a surcharge.
The money is supposed to offset "swipe fees" the credit card companies charge retailers each time a customer uses their card. The fees can be up to 3 percent of the total purchase.
In Fort Wayne, Stoner's Funstore has been a downtown institution for more than half a century. The owner, Dick Stoner, says he won't be among the retailers to raise prices.
"Most people have credit cards and want to buy their merchandise by credit card," says Stoner. "You're sort of forced to be in that situation. I think you have to absorb it and think about how to price so that it is included in your price."
Other retailers have opted to offer customers a discount for using cash, but Stoner says having too much cash in your register can be a safety concern.
Financial experts say it could take retailers some time to reprice items and make other adjustments based on credit card use.
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