Comment Regulation (Score 3, Insightful) 160
What we need is regulations. We need to:
1. cap the maximum fee that can be charged to merchants (0.5% would seem fair, but even 1% would be a good start)
2. Forbid clauses in contracts between Visa/Mastercard and ther merchants preventing the merchants from adding a surcharge when paying with a credit card to cover the fees.
The result would be a net win for the public.