card tap payment
MPC In the News August 20, 2024

Center Square: With growing consumer debt, credit card companies make billions more off swipe fees

While many banks oppose the proposed legislation, a recent survey by the Merchants Payments Coalition found that a majority of Americans support the Credit Card Competition Act. "According to the survey, 55% of likely voters in this fall’s general election support the CCCA while only 7% oppose it, and 38% are unsure," a news release accompanying the survey says. "Supporters outnumber opponents by nearly 50 percentage points."

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MPC In the News August 16, 2024

Digital Transactions: Lenders Bring Suit Against Illinois’s Newly Enacted Interchange Law

“The state of Illinois is likely to prevail [in this case] because allegations about how hard it will be to implement the law and that it runs afoul of federal and state laws are mistaken,” says Doug Kantor, an MPC executive committee member and general counsel for the National Association of Convenience Stores. “Banks are upset with the law because it sends money in the other direction [to merchants].”

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credit card detail
MPC In the News August 15, 2024

Bloomberg Law: Bank, Credit Union Groups Sue Over Illinois Swipe Fee Law

States are allowed to protect their tax collectors from having to pay to collect revenue, as Illinois sought to do by banning interchange fees on retail taxes, said Doug Kantor, general counsel at the National Association of Convenience Stores. “The state making sure that no longer happens is not preempted in any way” by federal banking laws, Kantor, a member of the Merchants Payments Coalition’s executive committee, said. The real point of the lawsuit is to force Illinois lawmakers, and those in other states such as Georgia and Pennsylvania considering similar legislation, to back off, Kantor said. “The lawsuit’s designed to do two things: to delay things so that they can try to scare people in Illinois and try to repeal the law,” he said. “And to scare people in other states as well.”

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credit cards detail
MPC In the News August 15, 2024

Law360: Banking Groups Sue To Thwart New Ill. Swipe Fee Restrictions

Doug Kantor, executive committee member of the Merchant Payments Coalition, panned the trade groups' lawsuit on Thursday as fundamentally off-base. "Every major point the bankers make in their lawsuit is wrong," Kantor said in a statement. "Credit card companies already adjust their charges to merchants after a transaction takes place if it's to increase the amount they take. The banks' objection to the Illinois law isn't that it's hard to do, it's that the money would go in the opposite direction."

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MPC In the News August 15, 2024

American Banker: Bank groups challenge Illinois swipe fee law

"Credit card companies already adjust their charges to merchants after a transaction takes place if it's to increase the amount they take," said Doug Kantor from the Merchants Payments Coalition executive committee in a statement. "The banks' objection to the Illinois law isn't that it's hard to do, it's that the money would go in the opposite direction. And states certainly have the power to protect their tax collectors, like retailers, from being penalized for doing their jobs for the state. Banks can't use the 'preemption' excuse to undermine state tax collections. The court should summarily reject this case."

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MPC In the News August 14, 2024

Digital Transactions: Merchants Get Another Extension to File Claims in Their Class Action Against Visa and Mastercard

The Merchants Payments Coalition, which lobbies on behalf of sellers on interchange and related matters, welcomed news of the extension. “There are so many claimants, it’s understandable that [the claims administrator] is still finding potential claimants,” says Doug Kantor, an MPC executive committee member and general counsel for the National Association of Convenience Stores.

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MPC In the News August 09, 2024

Digital Transactions: Processing Fees, Not Interchange, Are the Cost Merchants Should Combat, Some Say

But not all proponents for merchants in their battle against card-acceptance costs accept Cohen’s claims that rising processing fees can be more costly than interchange hikes. “Card-acceptance costs can be abusive in some cases, and complicated for merchants to understand, but that’s not the same systematic failure that we see with interchange,” argues Doug Kantor, an executive committee member for the Merchants Payments Coalition and general counsel for the National Association of Convenience Stores. Merchants can switch to a lower-cost provider if processing fees become too high, but are stuck with the interchange costs set by the card networks, Kantor adds.

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MPC In the News August 08, 2024

Bloomberg Law: Illinois Credit Card Swipe Fee Law Sparks Legal Fight With Banks

The law comes amid a decades-long fight pitting retailers like Walmart Inc., Target Corp., and Amazon.com Inc. against banks over interchange fees that credit card issuers charge to process transactions. Credit card swipe fees imposed by Visa and Mastercard alone topped $100 billion in 2023, according to the Merchants Payments Coalition.

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MPC In the News July 31, 2024

Credit Unions Today: In Survey Sponsored by Merchants Group, Americans Express Support for Credit Card Competition Act

The Merchants Payments Coalition, which conducted the survey, said it found both Democrats and Republicans are more likely to support Senate candidates who back the measure, according to a new survey released today by the Merchants Payments Coalition. “These results are clear: Americans by huge margins want Congress to do something about out-of-control credit card swipe fees that are driving up costs for small businesses and prices for consumers,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said.

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card tap payment
MPC In the News July 31, 2024

Convenience Store News: Airport Restaurants & Retailers Join Forces With Merchants Payments Coalition

The Merchants Payments Coalition is growing its contingent of groups pushing for lasting change to the payments market, with the Airport Restaurant and Retail Association joining the coalition.

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