Merchants Welcome Unions’ Call to Pass Credit Card ‘Swipe’ Fee Reform
MPC welcomed the endorsement of the Credit Card Competition Act by three of the nation’s largest labor unions, who called on the Senate Agriculture Committee to “not lose sight” of credit card swipe fees as it considers cryptocurrency legislation set for a vote.
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Merchants Urge Senate Ag Committee to Approve Credit Card ‘Swipe’ Fee Amendment to Cryptocurrency Legislation
MPC and other merchant groups from across the country urged the Senate Agriculture Committee to include the Credit Card Competition Act, which was recently endorsed by President Donald Trump, as part of cryptocurrency marketplace structure legislation.
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Merchants Say ‘The President is Right’ on High Credit Card Company Profits
MPC welcomed concern about excessive credit card company profits voiced by President Donald Trump during remarks at the World Economic Forum in Davos, Switzerland.
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Merchants Welcome Durbin Call to ‘Get This Done’ After Trump Endorsement of Credit Card Competition Act
MPC welcomed remarks made by Senator Dick Durbin on the Senate floor as he called for passage of the Credit Card Competition Act two days after the measure was endorsed by President Donald Trump.
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Merchants Praise Congressional Reintroduction of the Credit Card Competition Act
The Merchants Payments Coalition praised the House and Senate reintroduction today of the bipartisan Credit Card Competition Act, which would force giant credit card companies to compete for business rather than simply gouging Main Street and its customers with high credit card swipe fees.
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Merchants Thank President Trump for Championing Main Street and Its Customers
The Merchants Payments Coalition today applauded President Trump’s strong words of support for the Credit Card Competition Act.
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Fed Report Shows Visa, Mastercard Shift More Debit Card Fraud Onto Merchants
A biennial report just released by the Federal Reserve shows that Visa and Mastercard shifted more of the burden of debit card fraud onto the merchants, while easing responsibility for banks. The updated figures for 2023 show that merchants paid for 49.9% of debit card fraud in 2023 — up from 46.9% in 2021. During the same period, the amount paid by banks dropped from 33.4% to 28.3%.
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Merchants Ask Fed to Reject Banks’ ‘Stall Tactic’ on Reducing Billions in Debit Card Swipe Fees
The Merchants Payments Coalition and member trade associations today urged the Federal Reserve to turn down banks’ latest request that the agency drop a proposal to reduce the billions of dollars in “swipe” fees big banks charge to process debit card transactions. MPC encouraged the Fed to finally adopt the reduction instead.
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MPC Hill Blast: ‘Visa’s New Program Vexes Merchants’
Well, what do you know? It turns out that Visa has a “revamped system” that “has socked some merchants with higher costs.” The credit card companies keep telling Congress they don’t raise fees but in October Visa came out with a “Commercial Enhanced Data Program” that forced merchants into “a new interchange level” and made them “pay higher fees.”
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Credit Card ‘Swipe’ Fees Could Cost Consumers $20 Billion Or More During 2025 Holiday Season
Rising “swipe” fees banks charge merchants to process credit card transactions could cost consumers nearly $20 billion or more in higher prices this holiday season, MPC said.
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