Fee Cut to Cost Credit Card Firms About 700 bln Won per Year in Lost Revenue

SEOUL, Dec. 12 (Korea Bizwire) — The government’s plans to cut credit card commission fees will cost credit card firms about 700 billion won (US$619.8 million) per year in lost revenue, a government report showed Wednesday. Financial authorities unveiled two plans this year to reduce credit card commission fees for small merchants in a move [...]