MPC In the News | Merchants Payments Coalition

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 consumer

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.