PRESS RELEASES

January 27, 2022

Merchants Say Visa Study on Increasing Use of Credit Cards Shows Need to Bring Fees Under Control

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.

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January 21, 2022

Merchants Welcome Fed Paper on Digital Currency, Say Proposal Opens ‘Long-Needed Conversation’ on Payments

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.

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January 19, 2022

Merchants Ask U.S. Authorities to ‘Look Closely’ at Amazon’s Attempt to Reject UK Visa Credit Cards

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.

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January 11, 2022

Merchants Call on Fed to Complete Work on Debit Routing and Fees as Senate Holds Confirmation Hearing on Powell

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making it clear that merchants can choose which payment networks process debit card transactions and to also update its out-of-date debit card swipe fee regulations.

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November 22, 2021

Merchants Say Credit Card Fees are Helping Drive 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, the Merchants Payments Coalition said today.

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November 17, 2021

Merchants Ask FTC to Investigate Credit Card Companies’ Role in Higher Gasoline Prices

The Merchants Payments Coalition today called on the 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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September 20, 2021

Even DOJ, FTC Recognize Debit Card Payment Processing is Broken

As the Federal Reserve considers a move to increase competition among the payment networks that process billions of dollars in online debit card transactions each year, the agency has been flooded with letters and emails from merchants that support the plan, and banks that oppose it. But amid the hundreds of comments, the positions of […]

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August 11, 2021

Merchants Call on Fed to Swiftly Finalize Proposal to Protect Debit Card Routing Rights

WASHINGTON, August 11, 2021 –  A Federal Reserve proposal making it clear that merchants can choose which payment networks process their online debit card transactions is needed because major banks and networks continue to interfere with competition for debit business a decade after legislation was passed by Congress to fix the problem, the Merchants Payments […]

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July 14, 2021

Big Banks Should Not Be Priming the Pump to Gouge Consumers and Main Street as Card Volume Rises

The Merchants Payments Coalition today decried outrageous swipe fees pocketed by big banks, which have reported dramatic increases in credit and debit card volume this week as Main Street still struggles to recover from the COVID-19 pandemic.

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July 09, 2021

Merchants Welcome Biden Order on Competition and Say it Should be Applied to Payments Market

The Merchants Payments Coalition welcomed an executive order on competition signed today by President Joe Biden and called for its principles to be applied to address lack of competition in the payments market.

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