In The News
October 20, 2021
Retailers argue that the swipe fees incurred by Visa are simply too high for smaller businesses to survive. Meanwhile, those in support argue that Visa actually supports merchants.
October 19, 2021
Over 10 years after Congress brought competition to how in-store debit card transactions are processed, the Federal Reserve is finally seeking to clarify that the same rules apply to online debit transactions as well.
October 07, 2021
It’s been more than a decade since Congress brought competition to the way debit card transactions are processed, limiting Visa and Mastercard’s monopoly and giving a dozen independent processing networks like NYCE, Star and Shazam a chance.
September 20, 2021
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 […]
August 12, 2021
According to the Merchants Payments Coalition (MPC), 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.
August 12, 2021
NACS filed comments yesterday calling on the Federal Reserve Board to swiftly finalize its proposed clarification that would preserve a retailer’s routing choice on debit transactions.
August 12, 2021
Big bank and merchant groups weighed in just before a deadline on Wednesday in response to the Federal Reserve Board’s proposed debit rule clarification, voicing sharply opposing views on the proposal’s support for making multiple processing networks available, particularly for online transactions.
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 Coalition said today.
August 11, 2021
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 […]
August 10, 2021
The Merchants Payments Coalition (MPC) is grateful for the opportunity to provide comment on the Board’s proposed clarification of Regulation II. The language of Regulation II is clear that two unaffiliated networks must be available for all debit transactions, yet for too many years many of the largest issuers have failed to meet that requirement.