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NEW YORK — Riding a wave of public outrage over credit-card practices, 7-Eleven wants to show merchants are victims of the industry too. The convenience-store chain announced a petition this week to give small businesses more power to negotiate the fees they must pay whenever a customer uses a credit or debit card.
George Clift, who owns a 7-Eleven in McKinney, Texas, said he pays $28,000 annually in such fees, “a huge number for a small businessman.” Still, Visa and MasterCard warn that if such fees were lowered, banks would need to make up any lost revenue with higher credit- and debit-card fees.
