Merchants Renew Call for U.S. Action on Credit Card ‘Swipe’ Fees After Amazon and Visa Resolve Dispute in UK
The Merchants Payments Coalition renewed its call for U.S. officials to address credit card “swipe” fees following today’s announcement that Amazon has agreed to continue accepting Visa credit cards in the United Kingdom.
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Merchants Tell Congress Credit Card ‘Swipe’ Fees Place Small Businesses at a ‘Distinct Disadvantage’
The Merchants Payments Coalition urged Congress to protect small businesses against rising credit card “swipe” fees as the House Financial Services Committee held a hearing today on ensuring that small and minority-owned businesses share in the nation’s economic recovery.
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Decline of Cash Spotlights Swipe Fees
The shift away from cash is welcome news for card networks and banks. But it’s bad news for merchants and their customers, writes National Retail Federation Vice President Leon Buck.
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Merchants Association Cites Visa Study in Calling for Lower Fees
A new study by Visa shows the importance of bringing under control “swipe” fees charged to process credit and debit cards as consumers and small businesses move away from cash and the fees exacerbate record inflation in consumer prices, the Merchants Payments Coalition said this week.
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Merchants Say Visa Study on Increasing Use of Credit Cards Shows Need to Bring Fees Under Control
A new study by Visa shows the importance of bringing “swipe” fees charged to process credit and debit cards under control as consumers and small businesses move away from cash and the fees exacerbate record inflation in consumer prices, the Merchants Payments Coalition said today.
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Merchants Call to Bring Swipe Fees Under Control as Card Use Increases
Sixty-four percent of small businesses surveyed expect to go cashless over the next decade, while 41% plan to not accept cash within the next two years, according to a new study by Visa. Eighteen percent of small businesses are already cashless. The Merchants Payments Coalition (MPC) says these findings by Visa show the importance of bringing swipe fees under control, as Americans move to more digital forms of currency.
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A Central Bank Digital Currency Could Improve Payments, Fed Says
The Federal Reserve has released a white paper on the potential creation of a central bank digital currency (CBDC), a welcome step according to the Merchants Payments Coalition (MPC).
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Alternative Payment Firms Capitalize on Amazon-Visa Tensions
Amazon's short-lived threat to ban Visa credit cards in the U.K. may have been little more than a negotiating tactic to lower the fees the retailer pays, but many alternative payment providers still see it as an opening to convince merchants and consumers to use their products instead.
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Merchants Welcome Fed Paper on Digital Currency, Say Proposal Opens ‘Long-Needed Conversation’ on Payments
The Merchants Payments Coalition today welcomed the Federal Reserve’s new white paper on the potential creation of a central bank digital currency, saying a CBDC could help address the tens of billions of dollars a year in credit and debit card “swipe” fees that drive up prices for consumers.
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US Retailers Coalition Urges Regulators to Scrutinize 'Excessively High Fees' Charged by Visa, Mastercard
The Merchants Payments Coalition on Wednesday urged US regulators and lawmakers to scrutinize what it called"excessively high fees" charged by Visa (V) and Mastercard (MA) to process transactions for retailers. The development came after Amazon.com (AMZN) said in November it would stop accepting Visa credit cards in the UK due to the continued high cost of payments. The company reversed that decision earlier this week.
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