None of those points actually refute the simple fact that most of the interchange fee gets refunded to consumers. As for the theory that prices are inflated by

None of those points actually refute the simple fact that most of the interchange fee gets refunded to consumers. As for the theory that prices are inflated by interchange, there are two problems with it. One, reward card users don't experience inflation because most of the interchange is refunded to them. Two, when Australia regulated down interchange, it didn't actually result in lower prices. > what the hell is that fee I pay for the card every year? Most cards in the U.S. don't have annual fees. The ones that do usually offer enhanced benefits like richer reward programs.