Gifts and Decorative Accessories: New Voter Data, Ad Campaigns Add Pressure on Congress to Act on Credit Card Swipe Fee Reform
In MPC’s new survey about the Credit Card Competition Act and credit card swipe fee issues, the group found that 65 percent of likely voters support credit card swipe fee reform. “These numbers show that bringing competition to out-of-control swipe fees is a priority for consumers, not just merchants,” said Doug Kantor, MPC Executive Committee member and National Association of Convenience Stores general counsel. “Consumers are increasingly aware that swipe fees drive up the prices of everything they buy and are going nowhere but up. They want Congress to stand up against global credit card networks and Wall Street banks and put American families first.”
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Survey Finds Nearly Two-Thirds of Likely Voters Support Credit Card Swipe Fee Reform
Nearly two-thirds of likely voters support credit card swipe fee reform, according to a new survey released by MPC.
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CSP Daily News: Vote on Credit Card Competition Act Could Happen This Week
The bipartisan Credit Card Competition Act of 2023, designed to provide merchants relief from swipe fees, was reintroduced in Congress in June and has the support of the NACS, the Merchants Payment Coalition, the National Retail Federation and other business groups.
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NACS Daily: Credit Card Swipe Fees Return to Senate Floor, The Merchants Payments Coalition Welcomes Remarks Made by Senators
The Merchants Payments Coalition welcomed remarks on the Senate floor by sponsors of the Credit Card Competition Act this week, addressing Visa and Mastercard’s reported plans to increase credit card swipe fees by more than $500 million beginning next month.
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Merchants Agree 'Enough is Enough' as Senators Address New Visa and Mastercard Credit Card Swipe Fee Hikes
MPC welcomed remarks on the Senate floor by sponsors of the Credit Card Competition Act addressing Visa and Mastercard’s reported plans to increase credit card swipe fees by more than $500 million beginning next month.
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Gifts and Decorative Accessories: Merchants Agree 'Enough is Enough' as Senators Address Credit Card Swipe Fee Hikes
“Merchants have been calling for relief from rising swipe fees but Visa and Mastercard’s response is to increase these fees again,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “Consumers and small businesses in the United States are already paying far more in swipe fees than any country in the industrialized world and can’t afford to pay more. Visa and Mastercard apparently don’t care. We agree that enough is enough. It’s time to pass the Credit Card Competition Act so global card networks and Wall Street banks will have to compete the same as Main Street businesses do every day.”
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Payments Dive: CCCA Backers Target Vote This Year
Marshall “feels confident in that, and we take a lot of confidence from that as well,” said (MPC Executive Committee member) Doug Kantor, who is general counsel for the trade group NACS, an association that represents convenience stores and fueling stations impacted by card ‘swipe’ fees.
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Motley Fool: Visa and Mastercard Dispute Reports About Fee Hikes; Here's What Investors Need to Know
According to (MPC Executive Committee member) Doug Kantor, chief counsel at the National Association of Convenience Stores, the bill could potentially reduce swipe fees for merchants by $11 billion or more annually.
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Digital Transactions: Who Will Route Transactions?
“The skittishness on the debit networks’ part isn’t over business concerns, it is over political concerns,” says Doug Kantor, an executive committee member of the Merchants Payments Coalition and general counsel for the National Association of Convenience Stores. “The debit networks have the capacity to fill this role,” he adds. “especially since credit card volume will not all flow through one alternative network and the decision on which alternative networks to support will be made on a bank-by-bank basis should the CCCA pass. But the banking industry has worked itself into a frenzy over this issue.”
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Retail Brew: Visa and Mastercard Will Bump Up Credit Card Transaction Fees
“It’s just a bad combination and bad timing for any of these fee increases to happen,” (MPC Executive Committee member) Doug Kantor, general counsel of the National Association of Convenience Stores, told the WSJ, explaining that many businesses are still in a tough position because of the pandemic.
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