Credit Unions Today: Merchants Push For Credit Card Competition Act Amid Record Swipe Fees
The Merchants Payments Coalition is once again stressing the need for Congress to pass the Credit Card Competition Act, citing 2024’s “record year” credit and debit card “swipe” fees.
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Credit and Debit Card ‘Swipe’ Fees Hit New Record of $187.2 Billion, Driving Up Prices for American Families
Led by Visa and Mastercard once again, credit and debit card “swipe” fees reached another new record – $187.2 billion – last year, driving up consumer prices and further showing the need for Congress to pass the Credit Card Competition Act, MPC said.
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CStoreDecisions: Swipe Fees Hit Record Number
Credit card swipe fees, a prominent challenge that circulates the c-store industry often, are once more making headlines with a record number. Swipe fees for credit cards and debit cards combined totaled $187.2 billion in 2024, up from $172 billion in 2023, according to the Nilson Report. The Merchants Payments Coalition noted that was up 70% since the pandemic.
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Convenience Store News: Credit & Debit Card Swipe Fees Reach New Record in 2024
Credit and debit card swipe fees reached a new high of $187.2 billion in 2024, further driving up prices for consumers, reported the Merchants Payments Coalition.
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Abasto: Swipe Fees Hit Record $187B, Raising Prices
The Merchants Payments Coalition said today in a press release that credit and debit card “swipe” fees reached another new record last year, led once again by Visa and Mastercard. This drove up consumer prices and further demonstrated the need for Congress to pass the Credit Card Competition Act.
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CardRates.com: Let’s Respect the Decisions of Merchants Displaying the “Cash Only, Please” Signs
In January 2025, Visa raised some of its credit card swipe fees. The Merchants Payments Coalition, an advocacy group supported by restaurant, retail, and other trade organizations, estimates that the fee hike alone will add up to an additional $100 million in annual fees.
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Payments Dive: Retail, crypto groups converge to back stablecoin legislation
The Merchants Payments Coalition and the cryptocurrency interest trade group Payment Choice Coalition issued a joint press release Thursday to say they’re working together to promote “innovation, competition and choice in U.S. payments.”
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Digital Transactions: How Business Groups Are Pushing for Stablecoin Acceptance
A leading merchant association and a group representing stablecoin interests early Thursday threw their weight behind efforts to bring stablecoins into the payments mainstream in the United States. The move by the Merchant Payments Coalition and the Payment Choice Coalition seeks to “promote their shared goals of enhancing innovation, competition, and choice in U.S. payments,” the two groups said in a statement.
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Hotel Owners Call Credit Card Swipe Fees ‘Worse Than What OPEC Does’
The Asian American Hotel Owners Association, a leading member of the Merchants Payments Coalition, is calling on Congress to pass the Credit Card Competition Act to bring down credit card “swipe” fees that drive up consumer prices.
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American Banker: Why Mastercard's U.K. settlement won't translate elsewhere
Visa and Mastercard expressed disappointment with the rejection of the U.S. settlement at the time, Members of the National Grocers Association and the Merchant Payments Coalition said the settlement would provide only temporary relief from fees. "Visa and Mastercard have been trying to resolve the issue through settlements, but they keep getting thrown out by the courts, with the U.K. case being a notable exception," Aaron McPherson, principal at AFM Consulting, told American Banker, noting the U.K. settlement was well below the plaintiffs' claim.
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