If the credit card companies ask the retailers/ shopkeepers to pay for the transaction charges, why dont they stop this practice. The credit card companies want to provide each and every Indian with a "FREE" credit card but actullay it is not "FREE" when you are paying the transaction charges or the high interest rates when they don't pay the full amount. GOI should also ask the companies to stop this practice or the people will stop purchasing the things on cards and will revert back to purchasing on cash. If the people will revert back to cash, then the credit card companies will loose lot of money which they earn as interest fees and it will effect the market as people will then buy when they have sufficient cash to buy. Now it is high time for banks to think on Transaction fees or to loose lot of money as interest rates.
