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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U.S. Sun: Americans urged to make payment change to avoid unpredictable surcharges & $1.5k bill – this way ‘everyone saves money’
It’s estimated Americans paid between $187.2 billion and $236.4 billion, or about $1,200 annually per family, in credit card processing fees last year, according to the non-profit Merchants Payments Coalition advocacy group.
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Marketplace: Why don’t grocery stores charge credit card fees?
U.S. companies had to pay more than $187 billion in credit and card fees in 2024, an increase from $172 billion the previous year, according to the Merchant Payments Coalition, a group that advocates for lower credit card fees.
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U.S. News and World Report: Will the Visa-Mastercard Settlement Be Bad News for Your Premium Credit Card?
Could this proposal pass? In all likelihood, probably not. This battle has been going on for 20 years because no one can agree on anything. Both the National Retail Federation and the Merchants Payments Coalition issued statements saying the new proposal should be rejected. "This is the third attempt to settle this case, and the card industry either just doesn't get it or just doesn't care," Stephanie Martz, chief administrative officer and general counsel for the NRF, said in a news release. "The reduction in swipe fees doesn't begin to go far enough, and the change in the honor-all-cards rule would accomplish nothing." "This (proposal) makes a mockery of Judge (Margo) Brodie's admonition in her rejection of the previous settlement that any new settlement must deal with the 'honor all cards' rule," Jennifer Hatcher, a Merchants Payments Coalition executive committee member and FMI – The Food Industry Association chief public policy officer, said in a statement. "It ignores the fact that 85% of cards issued today are rewards cards and that merchants have no choice but to accept them. Banks would likely also have the power to move cards into different categories, effectively forcing merchants to continue to take all cards and pay their high prices."
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RealClear Markets: Chevron Is Gone, But the Fight Against Overregulation Continues
Not everyone’s cheering. Groups like the National Retail Federation and the Merchants Payments Coalition are pushing back, arguing the deal doesn’t go far enough. Fees would still hover around 2% for many transactions, and there’s no ironclad incentive for banks to lower their cut. Worse, it leaves the door cracked for Visa and Mastercard to hike rates elsewhere, perpetuating the very “upward spiral” that’s padded their profits at our expense.
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TechStock2: Mastercard Stock in Focus: Black Friday Strength, Swipe‑Fee Settlement and AI Push Shape the Outlook
Merchant groups including the National Retail Federation and the Merchants Payments Coalition have criticized the deal as “window dressing,” arguing that the fee cuts are too small and that the settlement could entrench Mastercard’s and Visa’s market power.
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SoyNomada: Learn About the Payment Agreement With Visa and Mastercard Cards
Despite the size of the new settlement, trade groups such as the National Retail Federation and the Merchants Payments Coalition remain opposed. They say the agreement does not sufficiently reduce costs and does not address concerns raised by the federal judge who rejected a similar settlement in 2024.
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USA Today: Why some say paying cash is a gift to small businesses this Saturday
Americans paid between $187.2 billion and $236.4 billion, or about $1,200 annually per family, in credit card processing fees last year, according to the nonprofit Merchants Payments Coalition advocacy group. Credit card processing fees are levied both on the price of the goods or services and any taxes or tips added to the bill.
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Financial Brand: Will the Mastercard/Visa Settlement Upend Your Credit Card Strategy?
The National Association of Convenience Stores called it more "smoke and mirrors." The National Retail Federation called the offer "window dressing" and said that "this is the third attempt to settle this case and the card industry either just doesn’t get it or just doesn’t care." NRF called the 10 basis point reduction "inadequate" compared to the average swipe fee of 2.35% in 2024. The Merchant Payments Coalition, in opposing the settlement, pointed out that swipe fees "are too high to absorb, leading to higher prices."
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