Swipe Fees Are Falling for Small Businesses. Or Are They?
A concession on interchange rates has done little to appease a merchant lobbying group that is hoping lawmakers will prevent Visa and Mastercard from changing their fees in April. The card networks are planning to implement a long-delayed increase in certain swipe fees next month, but they agreed to cut rates on some transactions for small businesses and the travel and day care industries. The Merchants Payments Coalition says the targeted cuts are small potatoes and won’t help the vast majority of retailers coping with credit card interchange rates that are cutting into profits as inflation soars.
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Mastercard, Visa Prep Fee Hike for April
Mastercard and Visa are preparing to raise the fees paid by merchants when consumers pay with credit cards, The Wall Street Journal (WSJ) reported Tuesday (March 8).
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MPC Asks Congress to Investigate Card Brands
The Merchants Payments Coalition today called on Congress to investigate Visa and Mastercard’s anticompetitive dominance over the U.S. credit and debit card markets, citing President Biden’s call in his State of the Union address to fight inflation by increasing competition.
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Merchants Bid to Block Looming Interchange Fee Hike
The Merchants Payments Coalition is calling on US politicians to block Visa and Mastercard interchange fee hikes that are set to take effect in April.
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Merchants Launch Ad Campaign as Swipe-Fee Hike Looms
Ahead of a planned swipe-fee increase set for April by Visa and Mastercard, the Merchants Payments Coalition (MPC) launched an advertising campaign to educate Congress and other policymakers on the swipe fees and the impact they have on consumers, small businesses and the U.S. economy.
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Credit card swipe fees set for $1.2 billion increase
A new advertising campaign looks to educate Congress and other policymakers on the impact high swipe fees have on consumers, small businesses and the U.S. economy.
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Amazon settles Visa fee spat; US merchants challenge fees
While Amazon and Visa settled a simmering dispute over credit card processing fees, US merchants have ramped up a campaign to convince legislators to examine the impact of credit card processing fees on small businesses.
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Merchants Payments Coalition Using UK Settlement to Demand Changes on U.S. Swipe Fees
The Merchants Payments Coalition (MPC) is calling on officials in the United States to do something about credit card “swipe” fees following an announcement that Amazon has agreed to continue accepting Visa credit cards in the United Kingdom.
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Amazon Strikes Agreement With Visa on Payment Fees
Amazon.com Inc. has agreed to accept Visa Inc.’s cards across its global network, settling a feud that threatened to damage the financial giant’s business and disrupt e-commerce payments.
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Swipe Fees Need to Be Addressed, Say Merchants
The Merchants Payments Coalition (MPC) is asking U.S. officials to address credit card swipe fees once again following the announcement that Amazon has agreed to continue accepting Visa credit cards in the United Kingdom.
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