MPC IN THE NEWS

November 18, 2021

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

The Merchants Payments Coalition (MPC) has called on the Federal Trade Commission (FTC) to investigate the credit-card industry, saying interchange or swipe fees charged to process transactions have contributed to increases in gasoline prices.

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MPC IN THE NEWS

November 18, 2021

Merchants Ask FTC to Probe Card Firms’ Role in Gas Price Hike

The Merchants Payments Coalition yesterday called on the U.S. 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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PRESS RELEASES

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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MPC IN THE NEWS

November 17, 2021

Lack of Competition Fuels Banks’ Hidden Credit Card Tax

Big Wall Street banks and giant credit card companies rake in more than $100 billion a year by skimming off hidden “swipe” fees every time a consumer uses a credit or debit card to pay for a purchase.

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MPC IN THE NEWS

November 15, 2021

Credit Card Companies Acknowledge Their Biggest Fear – Competition

In a recent article, the chairman of a credit card industry coalition expressed his members’ worst fear about bringing competition to who gets to process trillions of dollars in transactions each year. Doing so would result in a situation “in which credit card networks are forced to lower their prices to compete.”

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MPC IN THE NEWS

October 20, 2021

As Merchants Complain of Visa’s High Swipe Fees, Experts Weigh in on the Company’s Role in the Retail Market

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.

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MPC IN THE NEWS

October 19, 2021

Retail Groups Urge Credit Swipe Routing Changes

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.

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MPC IN THE NEWS

October 07, 2021

Debit Card Competition has Saved Consumers Billions

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.

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PRESS RELEASES

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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MPC IN THE NEWS

August 12, 2021

Retailers Call on Fed to Finalize Regulations Protecting Debit Card Routing Rights

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.

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