Press Releases
March 31, 2022
The Merchants Payments Coalition today asked the House Financial Services Committee to go beyond overdraft fees as it looks into bank fees “costing consumers billions,” saying credit and debit card swipe fees should be considered as well.
March 28, 2022
Hidden “swipe” fees charged by big banks and credit card networks to process transactions could cost the average consumer the equivalent of two dozen eggs this Easter and total hundreds of millions of dollars nationwide, the Merchants Payments Coalition said today.
March 08, 2022
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.
February 28, 2022
With fees set to rise in April, the Merchants Payments Coalition today announced an advertising campaign to educate Congress and other policymakers on high “swipe” fees credit card networks and big banks charge merchants to process transactions and the impact the fees have on consumers, small businesses and the U.S. economy.
February 17, 2022
The Merchants Payments Coalition renewed its call for U.S. officials to address credit card “swipe” fees following today’s announcement that Amazon has agreed to continue accepting Visa credit cards in the United Kingdom.
February 17, 2022
The Merchants Payments Coalition urged Congress to protect small businesses against rising credit card “swipe” fees as the House Financial Services Committee held a hearing today on ensuring that small and minority-owned businesses share in the nation’s economic recovery.
January 27, 2022
A new study by Visa shows the importance of bringing “swipe” fees charged to process credit and debit cards under control as consumers and small businesses move away from cash and the fees exacerbate record inflation in consumer prices, the Merchants Payments Coalition said today.
January 21, 2022
The Merchants Payments Coalition today welcomed the Federal Reserve’s new white paper on the potential creation of a central bank digital currency, saying a CBDC could help address the tens of billions of dollars a year in credit and debit card “swipe” fees that drive up prices for consumers.
January 19, 2022
The Merchants Payments Coalition today called on Congress and federal agencies to “look closely” at Amazon’s recent announcement that it would stop accepting Visa credit cards in the United Kingdom. Even though Amazon changed its mind this week, MPC said the high “swipe” fees that prompted the move are much higher in the United States and drive up consumer prices here even more.
January 11, 2022
s the Senate holds confirmation hearings on another term for Federal Reserve Chairman Jerome Powell, the Merchants Payments Coalition today called on the Fed to finalize its proposal making it clear that merchants can choose which payment networks process debit card transactions and to also update its out-of-date debit card swipe fee regulations.