MPC IN THE NEWS

October 20, 2021

As Merchants Complain of Visa’s High Swipe Fees, Experts Weigh in on the Company’s Role in the Retail Market

Retailers argue that the swipe fees incurred by Visa are simply too high for smaller businesses to survive. Meanwhile, those in support argue that Visa actually supports merchants.

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MPC IN THE NEWS

October 19, 2021

Retail Groups Urge Credit Swipe Routing Changes

Over 10 years after Congress brought competition to how in-store debit card transactions are processed, the Federal Reserve is finally seeking to clarify that the same rules apply to online debit transactions as well.

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MPC IN THE NEWS

October 07, 2021

Debit Card Competition has Saved Consumers Billions

It’s been more than a decade since Congress brought competition to the way debit card transactions are processed, limiting Visa and Mastercard’s monopoly and giving a dozen independent processing networks like NYCE, Star and Shazam a chance.

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MPC IN THE NEWS

August 12, 2021

Retailers Call on Fed to Finalize Regulations Protecting Debit Card Routing Rights

According to the Merchants Payments Coalition (MPC), a Federal Reserve proposal making it clear that merchants can choose which payment networks process their online debit card transactions is needed because major banks and networks continue to interfere with competition for debit business a decade after legislation was passed by Congress to fix the problem.

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MPC IN THE NEWS

August 12, 2021

NACS Urges Federal Reserve to Protect Routing Rights

NACS filed comments yesterday calling on the Federal Reserve Board to swiftly finalize its proposed clarification that would preserve a retailer’s routing choice on debit transactions.

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MPC IN THE NEWS

August 12, 2021

Big Bank, Merchant Groups Weigh in on Fed Rule Clarification

Big bank and merchant groups weighed in just before a deadline on Wednesday in response to the Federal Reserve Board’s proposed debit rule clarification, voicing sharply opposing views on the proposal’s support for making multiple processing networks available, particularly for online transactions.

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MPC IN THE NEWS

August 11, 2021

Merchants Call on Fed to Swiftly Finalize Proposal to Protect Debit Card Routing Rights

A Federal Reserve proposal making it clear that merchants can choose which payment networks process their online debit card transactions is needed because major banks and networks continue to interfere with competition for debit business a decade after legislation was passed by Congress to fix the problem, the Merchants Payments Coalition said today.

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MPC IN THE NEWS

August 09, 2021

Debit Rule Battle Dumps 500-Plus Comments on Fed

The Federal Reserve Board is now awash with 560 comments from payments market participants espousing the pros and cons of a seemingly simple rule clarification proposal on the processing of debit card transactions.

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MPC IN THE NEWS

August 02, 2021

Letter: Bring Competition to Credit Card Swipe Fees

The reason is that credit card networks and the big banks charge merchants a “swipe” fee averaging about 2 percent of the purchase amount every time a credit card is used, whether it’s swiped, inserted or used via a digital wallet. Those fees add up quickly, totaling almost $100 billion a year. They are among most merchants’ highest cost and drive up prices by hundreds of dollars a year for the average family.

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MPC IN THE NEWS

July 26, 2021

Letter: Congress Should Act on ‘Swipe’ Fees

Most consumers don’t know it, but the average family pays hundreds of dollars a year because of hidden “swipe” fees banks charge merchants to process credit card transactions.

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