NACS Daily: Swipe Fees Could Cost Consumers $20 Billion This Holiday Season
Rising swipe fees could potentially cost consumers over $20 billion in higher prices for everything from dreidels to Christmas trees this holiday season, according to the Merchants Payments Coalition.
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Motley Fool: Credit Card Swipe Fees Could Cost Consumers $20 Billion This Holiday Season
Credit card processing fees can be a huge burden for merchants -- especially these days, with those fees on the rise. In fact, the Merchants Payments Coalition estimates that rising processing fees could cost consumers more than $20 billion this holiday season.
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Credit Unions Today: Why Won't Santa be Able to Give Children a Barbie Doll or Lego Set This Holiday? Swipe Fees, Say Merchants as they Keep Up the Pressure
With the current session of Congress nearly over, the Merchants Payments Coalition is keeping up its pressure in support of the Credit Card Competition Act, issuing statements and backing advertising that alleges rising card “swipe fees” could “potentially cost consumers over $20 billion in higher prices for everything from dreidels to Christmas trees this holiday season.”
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Supermarket News: New TV Ad from Convenience Store Association Blasts Bank Card Fees
“At a time when Americans are suffering under the effects of inflation, they are paying even more because of hidden swipe fees levied by Visa, Mastercard and the Wall Street megabanks that issue the majority of credit cards,” Doug Kantor, MPC executive committee member and NACS general counsel, said in a statement.
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NACS Daily: Swipe Fees Limit Holiday Spending for Consumers
The Merchants Payments Coalition released a new TV commercial that explains how soaring credit card swipe fees are limiting what consumers can afford to buy this holiday season.
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Credit Unions Today: Swipe Fees Are the Real Grinch This Holiday Season, Say Merchants in New TV Spot
The ad is being sponsored by the Merchants Payments Coalition in support of the Credit Card Competition Act, which is supported by merchants and opposed by financial institutions, including credit unions. The 30-second commercial, which is being run by MPC member NACS, and as CUToday.info reported earlier, it is the latest to air as part of a seven-figure advertising campaign.
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Topeka Capital-Journal: Credit Card 'Swipe' Fees Are 10 Times Hollywood Box Office Receipts
Like other businesses, swipe fees are one of a theater's highest expenses and, across retail, drove up prices for the average family by $900 last year, according to the Merchants Payments Coalition.
Politico Influence: Merchants Tweak Visa Over Swipe Fees
The National Association for Convenience Stores, a member of the Merchant Payments Coalition of retailers, supermarkets, restaurants, drug stores and more that has pushed Congress to rein in card companies over so-called swipe fees, is funding a soccer-centric ad buy promoting legislation aimed at diluting the market dominance of just a few card companies.
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Supermarket News: Credit Card Swipe Fees Get a Swift 'Kick' in the Pants
The National Association for Convenience Stores (NACS) is taking to the airways in the latest move to pressure payments card processors Visa and Mastercard to allow additional networks to process bank card transactions. The group, a member of the Merchants Payments Coalition (MPC), just launched a new commercial nodding to Visa’s sponsorship of the FIFA World Cup — calling out the company for refusing to allow competition over swipe fees.
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Digital Transactions: Backed by a Merchant Group, a TV Ad Pushes the Case for Controlling Credit Card Costs
The 30-second commercial, which lays heavy emphasis on how Visa Inc. and Mastercard Inc. frustrate “free-market competition” by setting credit card interchange rates, shows a player kicking a soccer ball toward a net to score a goal, only to have the ball blocked by an oversized credit card. The ad is sponsored by the National Association of Convenience Stores and backed by the Merchants Payments Coalition, an advocacy group that has long lobbied against what it views as non-competitive setting of credit card acceptance rates by the two global networks.
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