Merchants Payments Coalition

“Arguments against the #CreditCardCompetitionAct simply don’t hold water, and it’s past time for lawmakers to shake up the status quo that Visa and Mastercard have long exploited to raise already excessive #swipefees,” VIRGINIA ASIAN AMERICAN STORE OWNERS ASSOCIATION INC President Shiv Patel and Vice President Kunal Kumar say. They call on Senators Mark Warner and Tim Kaine to support the CCCA. Richmond Times-Dispatch

MPC’s Stephanie Badger tells National Lumber & Building Material Dealers Association (NLBMDA) members the #CreditCardCompetitionAct has “seen a lot of bipartisan momentum” recently and that retailers are starting to “win the credit card wars.” #creditcard #swipefees HBSDealer

Arkansas retailer David Hendrix Jr. wants Senators Tom Cotton and John Boozman to support the #CreditCardCompetitionAct so “more money can stay in Arkansas rather than padding the pockets of big banks and #creditcard companies in New York and California.” #swipefees Northwest Arkansas Democrat-Gazette

MPC Executive Committee member and NACS General Counsel Doug Kantor says The Economist “was right on the money” in saying market competition is the best way to address high #creditcard #swipefees. The #CreditCardCompetitionAct would accomplish that goal and “bring significant benefits to consumers and the economy.”

If holiday shopping cost more this year, it was because #creditcard #swipefees drove up prices by $20 billion, “taking a bigger slice out of what it takes to put presents under the tree,” National Retail Federation Chief Administrative Officer and General Counsel Stephanie Martz said. #CreditCardCompetitionAct Convenience Store News

“For Black Americans, #swipefees - which #creditcard companies use to fund luxury points programs - act as yet another layer of systemic discrimination, forcing many to pay more while receiving less in return,” former NAACP CEO Dr. Benjamin F. Chavis, Jr. says. #CreditCardCompetitionAct

With #creditcard #swipefees driving up holiday costs $20 billion this year, “Inflation is coming down but swipe fees keep going up, taking a bigger slice out of what it takes to put presents under the tree,” MPC Executive Committee member and National Retail Federation Chief Administrative Officer and General Counsel Stephanie Martz says. #CreditCardCompetitionAct SupplyChainBrain

Does last-minute holiday shopping seem more expensive this year? Blame #creditcard #swipefees set by Visa and Mastercard for adding over $20 billion to prices. #CreditCardCompetitionAct CMSPI

MPC welcomed a judge’s ruling that Visa and Mastercard must comply with Illinois’ ban on #swipefees on sales tax and tips, calling it “a key first step in bringing swipe fees under control.” #creditcard Illinois Retail Merchants Association JB Pritzker NACS Doug Kantor

MPC today asked the Federal Reserve Board to reject a request by the American Bankers Association to withdraw or delay a proposal to reduce #debitcard #swipefees, calling it “a transparent effort” to continue high fees. MPC asked the Fed to quickly finalize the proposal instead. https://lnkd.in/ewkQPnX5