Good News for Your Bottom Line

The new limits to swipe fees associated with debit cards could potentially be a big benefit to the restaurant industry. Earlier this month, the Senate voted to put a cap on the up to 2 percent fee that stores and restaurants currently pay financial institutions when a customer uses their debit card. Restaurants, on average, conduct about 35 percent of their transactions with debit cards. The cap on these fees will take effect in July, and economists speculate that the entire retail industry should see some benefit from the changes.