Elaine Yi's Profile

I think it's wonderful when a love story begins with a great deal of romance and affection, passion and excitement, that's how it should be.

But I don't necessarily know that it's the wisest thing in the world to expect that it ends there, or that it should, 30 years down the road, still look as it did on the night of your first kiss.

The fees, roughly 1 to 3 percent of each purchase, are forwarded to the cardholder’s bank to cover costs and promote the issuance of more Visa cards.

The banks have used interchange fees as a growing profit center and to pay for cardholder perks like rewards programs. Interchange revenue has increased to $45 billion today, from $20 billion in 2002, driven in part by the surge in debit card use.

Merchants were not charged a fee for accepting PIN debit cards, and sometimes they even got a small payment because it saved banks the cost of processing a paper check.

That changed after Visa entered the debit market. In the 1990s, Visa promoted a debit card that let consumers access their checking account on the same network that processed its credit cards, which required a signature.