Stop Interchange Now?
Earlier this week, PR firm Bite Communications, on behalf of a mysterious group called StopInterchangeNow.com, published a press release about a small protest outside the Javitz Center in New York City where the National Retail Federation's annual conference was being held.
Today in New York, dozens of protestors stood outside the Javits Center during the National Retail Federation's annual conference and expo. The group was demonstrating against the interchange fees that card associations like Visa, MasterCard and American Express charge to retailers every time a consumer uses a credit card. The topic of interchange fees has been a hot button issue for the retail industry, which paid approximately $39 billion in fees to the card associations last year. Ultimately, this cost is passed onto consumers through higher prices. Retailers interested in eliminating their interchange fees were encouraged to sign up at www.STOPinterchangeNOW.com.Does anyone know anything more about this group that they can share publicly? Post a comment here if so. Note that the PR firm won't provide any more details just now - but basically says to "watch this space" for important news regarding interchange fees.
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