In The News
November 16, 2023
Rising credit card “swipe” fees will contribute significantly to the cost of celebrating Thanksgiving this year regardless of whether families stay home, eat out or travel, MPC said.
November 08, 2023
An increase in fraud rates on Visa and Mastercard’s networks shows the need to pass the Credit Card Competition Act to provide merchants with more secure options for routing consumer transactions, MPC said.
November 01, 2023
The Credit Card Competition Act is the only legislative proposal that would bar China’s credit card network, China UnionPay, from the U.S. payments market, MPC told Congress in a letter.
October 26, 2023
Soaring profits reported by Visa and Mastercard this week are further evidence the credit card market is broken and not competitive, MPC said.
October 25, 2023
A long-awaited reduction in the “swipe” fees large banks are allowed to charge merchants to process debit card transactions proposed today by the Federal Reserve is welcome but doesn’t go far enough, MPC said.
October 17, 2023
The Merchants Payments Coalition welcomed today’s announcement that the Federal Reserve Board of Governors will meet next week to consider revising its 12-year-old regulation on debit card swipe fees
October 16, 2023
Huge profits reported by some of the nation’s largest card-issuing banks as credit card swipe fees continue to rise show the need for Congress to pass the Credit Card Competition Act, the Merchants Payments Coalition said.
September 20, 2023
“Thank you to Senators Durbin, Marshall, Welch and Vance for their tireless advocacy on behalf of Main Street businesses," MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. "We need Congress to follow the lead of these champions of Main Street. With Visa and Mastercard hiking fees and creating new ones just next month, it’s time to pass the Credit Card Competition Act.”
September 18, 2023
Nearly two-thirds of likely voters support credit card swipe fee reform, according to a new survey released by MPC.
September 13, 2023
MPC welcomed remarks on the Senate floor by sponsors of the Credit Card Competition Act addressing Visa and Mastercard’s reported plans to increase credit card swipe fees by more than $500 million beginning next month.