WASHINGTON – Almost immediately after agreeing to reduce “swipe” fees charged to merchants to process credit card transactions, Mastercard plans to increase fees for both credit and debit card transactions by more than $250 million this month, the Merchants Payments Coalition said Wednesday. “This new increase proves the credit card companies are continuing to take
WASHINGTON — U.S. retailers and industry groups representing them are lauding the latest bipartisan effort to diminish the power of credit card giants Visa and Mastercard. The move comes as lawmakers in the Senate and House reintroduced The Credit Card Competition Act, which allows merchants to get a choice of at least two routing networks
WASHINGTON – The National Retail Federation today called on Congress to address credit card “swipe” fees by passing legislation allowing retailers to route transactions over competing networks offering lower fees and improved security. “It’s time for big banks and global card networks to compete the same as small businesses do every day,” Stephanie Martz,
WASHINGTON — Citing the continuing effects of the coronavirus pandemic on businesses, Visa Inc. and Mastercard Inc. said they will hold off on increasing interchange fees for merchants until next April. The move was applauded by the Merchants Payments Coalition (MPC), which represents supermarkets, retail pharmacies, convenience stores, gasoline stations, online merchants and others in
NEW YORK — An appeals court ruling has struck down the 2012 settlement of a class-action lawsuit over credit card swipe fees imposed by Visa and MasterCard. The settlement had been opposed by a significant portion of the retail industry. The case originated in a 2005 lawsuit filed by 19 retailers and trade associations against