Credit Card Fees Driving Thanksgiving Inflation
As Americans prepare to spend a record amount on Thanksgiving dinner and travel this year, credit card “swipe” fees will contribute significantly to the inflation seen in costs for the holiday, adding millions of dollars to prices paid by consumers, according to the Merchants Payments Coalition.
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Swipe Fees Help Drive Thanksgiving Inflation
Swipe fees are a significant contribution to rising holidays costs, adding millions of dollars to prices paid by consumers, according to the Merchants Payments Coalition.
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Merchants Ask FTC to Investigate Card Companies’ Role in Higher Gas Prices
The Merchants Payments Coalition (MPC) has called on the Federal Trade Commission (FTC) to investigate the credit-card industry, saying interchange or swipe fees charged to process transactions have contributed to increases in gasoline prices.
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Merchants Ask FTC to Probe Card Firms’ Role in Gas Price Hike
The Merchants Payments Coalition yesterday called on the U.S. Federal Trade Commission to investigate the credit card industry, saying swipe fees charged to process transactions have contributed to increases in gasoline prices.
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Lack of Competition Fuels Banks’ Hidden Credit Card Tax
Big Wall Street banks and giant credit card companies rake in more than $100 billion a year by skimming off hidden “swipe” fees every time a consumer uses a credit or debit card to pay for a purchase.
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Credit Card Companies Acknowledge Their Biggest Fear - Competition
In a recent article, the chairman of a credit card industry coalition expressed his members’ worst fear about bringing competition to who gets to process trillions of dollars in transactions each year. Doing so would result in a situation “in which credit card networks are forced to lower their prices to compete.”
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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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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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Daily Independent: 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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