In The News
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.
May 11, 2021
FOR IMMEDIATE RELEASEContact: J. Craig Shearman(202) 257-3678 craig@shearmancommunications.com WASHINGTON, May 11, 2021 – The Merchants Payments Coalition called on the Federal Reserve today 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. MPC also welcomed the […]
April 22, 2021
Regulatory, legislative and court confrontations over the card network companies’ fees are ratcheting up pressure again for reform of the behemoths’ practices. Senate Majority Whip Dick Durbin was riled up when he leaned into his microphone to speak last month at an antitrust subcommittee hearing. The source of his consternation? The dominance of Visa and […]
March 19, 2021
FOR IMMEDIATE RELEASEContact: J. Craig Shearman(202) 257-3678 craig@shearmancommunications.com WASHINGTON, March 19, 2021 – The Merchants Payments Coalition welcomed published reports today that the Department of Justice is investigating whether Visa is engaging in anticompetitive practices related to how debit card transactions are routed for processing. “The MPC has been concerned about these practices to limit […]
March 19, 2021
The Justice Department is looking at Visa Inc’s debit practices, the company said on Friday, after reports the United States was investigating whether the credit card company uses anticompetitive practices in the debit-card market.
March 17, 2021
The Merchants Payments Coalition (MPC), another group of retailers, restaurants, gas stations and other merchants focused on the credit card fee issue, took the argument a step further, calling on Visa and Mastercard to lower their fees.
March 16, 2021
The card brands are taking their last major step in the U.S. EMV migration by enforcing a liability shift at fuel stations. The April 17 deadline has been delayed multiple times — it was originally set for October 2015 — even as the rest of the country marched ahead with EMV conversions at the point […]
March 16, 2021
FOR IMMEDIATE RELEASEContact: J. Craig Shearman(202) 257-3678 craig@shearmancommunications.com WASHINGTON, March 16, 2021 – The Merchants Payments Coalition welcomed today’s announcement by Visa and Mastercard that nearly $1.2 billion in credit card swipe fee increases will be postponed for a year, but said existing fees are already too high and need to be addressed by Congress. […]
March 16, 2021
The Merchants Payments Coalition welcomed Visa and Mastercard’s announcement that nearly $1.2 billion in credit card swipe fee increases will be postponed for a year, but said existing fees are already too high and need to be addressed by Congress.