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Dual-Message Interchange for Regulated Debit Card Issuers Declined in 2017, the Fed Reports

August 20 2018

• in
• Interchange

“Interchange on debit card transactions has changed relatively little in the nearly seven years since the Durbin Amendment to the 2010 Dodd-Frank Act took effect, but a Federal Reserve report notes one small but interesting recent change. The average interchange fee in 2017 for dual-message transactions on debit cards regulated by the amendment declined slightly […]

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Credit Card Interchange Settlement Once Again Divides Merchants

September 19 2018

• in
• Interchange

“Déjà vu, anyone? Similar to its now-moot predecessor agreement from 2012, the proposed $6.24 billion monetary-damages settlement in a big credit card interchange antitrust case announced Tuesday by Visa Inc. and Mastercard Inc. is drawing diverging reviews from merchants. Based on anecdotal comments and the history of the earlier settlement, small, independent businesses, which in 2005 filed the […]

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Retailers continue fight against Visa and Mastercard even after record $6.2 billion settlement

September 24 2018

• in
• Interchange

“But the retailers are now gearing up for the next round in their fight with the payment networks. The settlement addressed only monetary damages associated with the lawsuit. There’s a separate class of merchants fighting for changes to Visa and Mastercard’s business practices.”

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Providers

Shoppers Love Rewards Credit Cards. Retailers Hate Them.

September 25 2018

• in
• Interchange
• Litigation
• Merchants
• Networks

“Large merchants including Amazon.com Inc., Target Corp. and Home Depot Inc.are pushing for the right to reject some rewards credit cards, which typically carry higher fees for merchants.”

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Mastercard, Visa Finalize EU Card Probe by Agreeing to Cut Fee

April 29 2019

• in
• Interchange

“The European Commission makes legally binding Mastercard’s and Visa’s  commitment to reduce “multilateral interchange fees”, or fees charged to retailers when foreigners use their credit or debit cards in EU region. The commitments, which will cut the inter-regional MIFs by on average 40%, “will significantly reduce the costs for retailers in the EEA when they […]