MPC IN THE NEWS

February 09, 2023

CNBC: How Small Businesses Are Fighting Inflated Credit Card Swipe Fees

Swipe fees drove up prices for the average American by at least $900 in 2021, according to estimates from the Merchants Payments Coalition, which represents a variety of small businesses including restaurants and convenience stores.

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MPC IN THE NEWS

February 07, 2023

Furniture Today: Forget Spy Balloons; Retail Group Says China a Credit Card Security Threat

The Merchants Payment Coalition says passage of the Credit Card Competition Act would add a layer of safeguarding, keeping China from “infiltrating” the U.S. payments processing market.

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MPC IN THE NEWS

February 07, 2023

American Prospect: Small Businesses Rise to Fight Wall Street

Though founded over a decade ago, MPC’s efforts have undergone a resurgence since the pandemic, with a stronger grassroots presence. “There’s a lot of energy right now behind this issue and it’s only going to keep building as fees continue to go up,” said Doug Kantor, general counsel for the National Association of Convenience Stores and a founder of the Merchants Payments Coalition.

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PRESS RELEASES

February 07, 2023

Merchants Tell Congress Credit Card Competition Act Would Block National Security Threat from China UnionPay

The Merchants Payments Coalition told a House committee holding a hearing on economic threats from China that passage of the Credit Card Competition Act is needed to keep China from “infiltrating” the U.S. payments processing market.

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MPC IN THE NEWS

February 02, 2023

Wilmington News-Journal: This is Why Delaware Needs Relief from Rising Credit Card ‘Swipe’ Fees

For most merchants, these fees are their highest operating cost after labor and drive up prices by $900 a year for the average Delaware family, according to the Merchants Payments Coalition.

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MPC IN THE NEWS

February 01, 2023

CStoreDecisions: Credit Card Swipe Fees to Cost Consumers for Valentine’s Day

Recently reported by the Merchants Payments Coalition (MPC), rising swipe fees banks charge merchants to process credit and debit card transactions could potentially cost consumers over $500 million in higher prices for Valentine’s Day items this year. “There’s nothing romantic about swipe fees,” Doug Kantor, MPC executive committee member and National Association for Convenience Stores (NACS) general counsel, said

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MPC IN THE NEWS

February 01, 2023

NACS Daily: Swipe Fees Could Cost Consumers Almost $600 Million This Valentine’s Day

Swipe fees that banks charge merchants to process credit and debit card transactions could potentially cost consumers more than $500 million in higher prices for everything from cards and candy to roses and rings this Valentine’s Day, according to the Merchants Payments Coalition (MPC).

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PRESS RELEASES

January 31, 2023

Credit Card ‘Swipe’ Fees Could Cost Consumers Over $500 Million on Valentine’s Day

Rising swipe fees banks charge merchants to process credit and debit card transactions could potentially cost consumers over $500 million in higher prices for everything from cards and candy to roses and rings this Valentine’s Day, MPC said.

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MPC IN THE NEWS

January 24, 2023

San Francisco Examiner: Credit Card ‘Swipe Fees’ Are Out of Control. The Reason is Lack of Competition

Swipe fees are far too much for merchants to absorb and must be included in retail pricing, costing the average California family an estimated $900 a year, according to the Merchants Payments Coalition.

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MPC IN THE NEWS

January 18, 2023

Payments Dive: What Payments Can Expect From Washington This Year

“There’s just much more activity and concern about these payments issues than has been true maybe at any other time,” said Doug Kantor, general counsel for the National Association of Convenience Stores. ... “It’s a new Congress where there’s a lot of potential avenues, legislatively,” said Kantor, who is also an executive committee member for the trade group Merchants Payments Coalition. Last year, “the menu of what was going to occur was much more limited.”

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