In The News
July 26, 2021
Most consumers don’t know it, but the average family pays hundreds of dollars a year because of hidden “swipe” fees banks charge merchants to process credit card transactions.
July 24, 2021
Rather than competing like other vendors, virtually all banks that issue Visa and Mastercard cards follow fee schedules set by the two networks and refuse to negotiate.
July 24, 2021
As a merchant who sees my pocket picked every day by Visa, Mastercard and the big banks, I strongly believe it’s time for Congress and the nation’s banking regulators to do something about the growing problem of “swipe” fees.
July 14, 2021
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.
July 13, 2021
The Merchants Payments Coalition (MPC) called on the Biden administration to include the payments industry in its federal crack down on antitrust concerns in American business.
July 09, 2021
Colorado passed a new law this week jettisoning its ban on credit card surcharges, leaving only two states with such prohibitions as a nationwide legal campaign against the ban gains ground.
July 09, 2021
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.
June 28, 2021
Plans for card network giants Visa and Mastercard to raise interchange fees in April were met with resistance among merchants and politicians, as many businesses are still working to overcome challenges wrought by the past year’s events.
May 18, 2021
The Merchants Payments Coalition called on the Federal Reserve to revise debit card swipe fee regulations adopted a decade ago, citing a new Fed report showing banks’ average cost of processing the transactions has fallen by half.
May 13, 2021
The Fed will review whether a rule requiring options in routing debit transactions is being followed, but angered merchants when it kept the cost basis for a national debit fee cap unchanged.