Capitol Account: Banks vs. Retailers -- Both Sides Discuss Their Two-Decade War Over Credit Card Swipe Fees
Capitol Account: What is the Merchants Payments Coalition? MPC Executive Committee member Doug Kantor: It is virtually everybody you can think of on Main Street who accepts a card for payments. Grocery stores, restaurants, convenience stores, hotels, florists, bookstores – it goes on and on. All of these folks get hit with these huge fees that are set in an anti-competitive manner.
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Stationery Trends: Senate to Vote on Credit Card 'Swipe' Fee
The Merchants Payments Coalition welcomed the announcement by Senator Roger Marshall (R-Kan)., that the Senate plans to vote on the Credit Card Competition Act.
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The Hill: Love Your Credit Card Points? A Bill That May Change Them is Still on the Table
“I think it’s more clear that there will be a vote and people will have to vote on it. The only question is: when?” said Doug Kantor, general counsel at the National Association of Convenience Stores, in a phone interview. Kantor is also an executive committee member of the Merchant Payments Coalition of convenience stores, supermarkets and other businesses that support the bill.
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Furniture Today: Planned Vote on 'Swipe Fee' Bill Welcomed by Merchants Coalition
Doug Kantor, MPC executive committee member and National Assn. of Convenience Stores general counsel, responded on behalf of the organizations. “Support for the Credit Card Competition Act is growing rapidly, and we are confident it will pass once senators are given the chance to cast votes in favor of Main Street over Wall Street."
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Merchants Welcome Assurances for Senate Vote on Credit Card 'Swipe' Fee Bill
MPC welcomed the announcement by Senator Roger Marshall, R-Kan., that the Senate plans to vote on the Credit Card Competition Act.
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Digital Transactions: The CCCA Won't Harm Card Issuers' Ability to Fund Rewards Cards, MPC Says
MPC Executive Committee member and National Association of Convenience Stores general counsel Doug Kantor contends the argument that passage of the CCA will hit cardholder rewards is a scare tactic aimed at getting consumers to pressure legislators to defeat the bill. “This seems to be a throw-the-spaghetti-against-the-wall approach and see what sticks,” Kantor tells Digital Transactions News. “Every industry has competition for business and there is no reason why one segment [of the card business] needs special protection.”
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Convenience Store News: New Study -- Credit Card Rewards Won't be Lost to Swipe Fee Bill Passage
In a paper released last week, global payments consulting firm CMSPI estimated that credit card rewards would be reduced by less than one-tenth of one percent "at most" if the legislation becomes law, according to the Merchants Payments Coalition.
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Green Sheet: Credit Card Act Will Not Impact Rewards, Study Finds
MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor: “This is proof that claims that rewards would go away are nothing more than idle threats and scare tactics, the same as they have been in every market around the world where swipe fees have been addressed.”
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InBusiness: New Study Says Swipe Fee Bill Would Not Lead to Loss of Credit Card Rewards
This analysis shows the expected savings from competition over swipe fees would have almost no impact at all on credit card rewards and that the card industry has far more than enough profits to make up the difference,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said.
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New Study Says 'Swipe' Fee Bill Would Not Lead to Loss of Credit Card Rewards
MPC welcomed new research showing passage of the Credit Card Competition Act should have virtually no impact on credit card rewards and that banks could easily afford to continue offering rewards.
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