Press Releases
September 14, 2022
More than 200 merchant trade associations and close to 1,700 companies ranging from Main Street small businesses to national chains called on Congress to support legislation sponsored by Senators Richard Durbin and Roger Marshall that would finally bring badly needed competition to the credit card market.
August 26, 2022
Merchants from across Kansas met with Senator Roger Marshall to emphasize how lack of competition over credit card processing drives up prices paid by consumers and thanked him for introducing the bipartisan Credit Card Competition Act.
July 28, 2022
MPC welcomed bipartisan legislation sponsored by Senators Richard Durbin and Roger Marshall that would let merchants choose which payments networks process credit card transactions, saying the measure would create long-sought competition that could save businesses and consumers billions of dollars a year.
July 15, 2022
“Swipe” fees banks charge merchants to process credit card transactions will contribute an estimated $2.5 billion to the cost of everything from crayons to computers as American families hit with rising inflation send their children back to school and college this year, the Merchants Payments Coalition said. That amounts to almost $20 in swipe fees for the average family.
June 29, 2022
“Swipe” fees banks charge merchants to process credit card transactions will add hundreds of millions of dollars to the cost of everything from food to fireworks as Americans struggling amid rampant inflation celebrate Independence Day this year, the Merchants Payments Coalition said.
May 12, 2022
As the Senate confirmed Chairman Jerome Powell for another term today, the Merchants Payments Coalition called on the Federal Reserve to finalize a year-old proposal clarifying that merchants can choose which payment networks process debit card transactions regardless of whether purchases are made in stores or online.
May 04, 2022
The Merchants Payments Coalition today called on Congress to bring competition to the U.S. credit card market, saying decades of domination by Visa and Mastercard has shut out innovation and led to soaring “swipe” fees that are a burden for small businesses, drive up prices for consumers and contribute to inflation.
April 27, 2022
The Merchants Payments Coalition welcomed today’s announcement that the Senate Judiciary Committee will hold a hearing next week on anticompetitive practices by the credit card industry that have led credit card “swipe” fees to more than double over the past decade and are driving up prices as consumers face near-record inflation.
April 15, 2022
The Merchants Payments Coalition today welcomed a letter from bipartisan members of the House and Senate asking Visa and Mastercard to withdraw credit card swipe fee increases set to take effect this month, and agreed that the increases would drive up prices paid by consumers already facing high inflation.
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.