Merchants could end up paying an extra $502 million annually in fees, according to a consulting firm
Visa V 0.62%increase; green up pointing triangle and Mastercard MA 1.03%increase; green up pointing triangle are planning to increase fees that many merchants pay when they accept customers’ credit cards.
The fee increases are scheduled to start in October and April, according to people familiar with the matter and documents viewed by The Wall Street Journal. Many of the increases are for online purchases.