MPC Hill Blast: ‘Extensive’ and ‘Punitive’ Credit Card Swipe Fee Increases
The calendar has barely turned to 2026, and credit card swipe fees are increasing again. The credit card giants keep pretending otherwise, but year after year they dramatically increase swipe fees.
READ MORE +MPC Hill Blast: The Hidden Force Pushing Up Gas Prices
Customers don’t see it, but there is a hidden factor pushing up the price of gasoline — and virtually everything else that Americans buy. That hidden force is credit card swipe fees.
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Payments Dive: CCCA seeks new path to passage
The timing is unclear, but sponsors of the housing bill, Sens. Tim Scott (R-SC) and Elizabeth Warren (D-Mass.), are aware of the Marshall-Durbin desire to offer an amendment, said (MPC Executive Committee member) Doug Kantor, who has advocated for the CCCA as general counsel for the National Association of Convenience Stores. Warren has previously supported capping credit card fees. “I think [Scott and Warren] are fully aware that the sponsors of the CCCA will take any opportunity that is presented to them,” Kantor said in an interview Wednesday. “We’re sort of waiting to hear.”
READ MORE +MPC Hill Blast: 'Persistent Cost Pressures'
The James Beard Foundation just issued its annual report on “The State of Independent Restaurants” and the picture is sobering.
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U.S. Sun: The truth behind the new credit-card swipe fee law as Americans are forced to cough up $1,200 in extra charges
Doug Kantor – of the National Association of Convenience Stores – said increased competition would benefit businesses and consumers. The association is part of the Merchants Payment Coalition. “When the merchant has more money, than they can pay their employees or expand and open a new store — that’s good for everybody,” he said. “When customers have more money in their pockets so that they can buy more things, that’s good for everybody. “It’s good for the economy. It’s good for the customer. So taking that friction out, that really adds up.”
READ MORE +MPC Hill Blast: 'Money, Power and Profit'
The latest installment of Robert Kiyosaki’s “Money, Power, and Profit” titled “The Cartel” is quite a read. It devastatingly walks through the problems with the two separate cartels that Visa and Mastercard have formed to set and charge credit card swipe fees.
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JD Supra: Federal Court Partially Upholds Illinois Law Limiting Interchange Fees
In 2022, Americans conducted over 89 billion debit card transactions worth $4.0 trillion and over 55 billion credit card transactions worth $5.4 trillion. Interchange fees hit a record $187.2 billion in 2024 according to the Merchants Payments Coalition.
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CardRates.com: Interchange at Risk in Illinois
Merchant groups came out in support of the ruling, with the Merchant Payments Coalition releasing a statement that labeled it a major victory.
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KNSD-TV: The true cost of credit-card swipe fees and the push to lower them
Doug Kantor is with the National Association of Convenience Stores, which is part of the Merchants Payments Coalition. He said more competition would benefit businesses and consumers. "When the merchant has more money, than they can pay their employees or expand and open a new store — that's good for everybody," Kantor said. "When customers have more money in their pockets so that they can buy more things, that's good for everybody. It's good for the economy. It's good for the customer. So taking that friction out, that really adds up."
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Paint and Decorating Retailer: Valentine’s Day Shoppers Face $683 Million in Credit Card Swipe Fees
“For restaurants, swipe fees are anything but a love story,” says MPC executive committee member and National Restaurant Association director of technology and innovation policy Brennan Duckett. “On one of the year’s biggest dining holidays, these excessive fees raise costs for restaurant operators and for every couple trying to enjoy a special night out. It’s time for Congress to show some love to small businesses and their guests by passing the Credit Card Competition Act.”
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