Card network giants Visa (NYSE:V) and Mastercard (NYSE:MA) are planning to boost the fees they charge merchants when they accept shoppers’ credit cards, the Wall Street Journal reported on Wednesday, citing people familiar and documents seen by the newspaper.

The fee increases are set to begin in October and April. That could increase the fees that merchants pay to accept the credit cards by $502M, the WSJ said, using data from consulting firm CMSPI.

Source: SeekingAlpha