MPC IN THE NEWS

March 16, 2021

EMV deadline nears for gas stations, but many won’t make it

The card brands are taking their last major step in the U.S. EMV migration by enforcing a liability shift at fuel stations. The April 17 deadline has been delayed multiple times — it was originally set for October 2015 — even as the rest of the country marched ahead with EMV conversions at the point […]

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MPC IN THE NEWS

March 16, 2021

Credit Card Swipe Fee Increases Temporarily Delayed

The Merchants Payments Coalition welcomed Visa and Mastercard’s announcement that nearly $1.2 billion in credit card swipe fee increases will be postponed for a year, but said existing fees are already too high and need to be addressed by Congress.

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MPC IN THE NEWS

March 16, 2021

Mastercard, Visa to postpone some fee increases next month

Durbin and Rep. Peter Welch, D-VT, sent a letter to the companies this month urging them not to increase fees. The merchants’ trade group Merchants Payments Coalition has also been pressing the credit card companies to hold off on a hike that would cause retailers and merchants to pass increases to consumers.

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MPC IN THE NEWS

March 16, 2021

Card brands postpone fee hike, but merchants want interchange reform

The major card networks have postponed a planned interchange fee hike yet again in light of the reality of an ongoing pandemic, pleas from merchant groups and pressure from Sen. Dick Durbin, D-Ill. But while this one-year delay provides immediate relief, it doesn’t address the long-term concerns critics have raised over how much power the […]

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MPC IN THE NEWS

March 16, 2021

Visa, Mastercard to Delay Merchant Fee Hikes Another Year

Visa Inc. and Mastercard Inc. are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic.

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MPC IN THE NEWS

March 04, 2021

Industry ‘Pleased’ by Legislators’ Request to Cancel Swipe Fee Hike

The grocery industry has described itself as “extremely pleased” by a letter sent by federal lawmakers encouraging major credit card companies to cancel planned increases in interchange fees, also known as “swipe fees,” which food retailers maintain would be detrimental to businesses and consumers still struggling during the pandemic.

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MPC IN THE NEWS

March 03, 2021

Interchange to rise in April, but card brands offer an olive branch

Last year the major card networks decided, amid the pandemic, to hold off on adjusting interchange fees until April of 2021. This would be the most substantial change to the interchange rate structure in a decade, and the card networks have not signaled plans to delay it further.

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