Credit Card Execs Summoned to White House Meeting Next Thursday
In an article titled "Card Issuers, Geithner To Meet", Nancy Trejos and Binyamin Appelbaum write for the Washington Post's Friday edition that "top executives of 14 of the nation's largest credit card companies are heading to the White House on Thursday for a meeting with Treasury Secretary Timothy F. Geithner and Lawrence H. Summers, the president's chief economic adviser." The meeting hasn't been publicly announced.
In Canada next week Mastercard and Visa executives will be speaking with a banking committee looking into their fees plus Interac, the bank owned debit monopoly. Interac wants to change to a be a for profit association. Visa and MasterCard want to compete with Interac. The online world in Canada is almost 100% credit card and many merchants want to accept payments from their customers with online banking.
The more competition there is for online payments the better it is for online sellers and consumers who have an online bank account.
Posted by: Brian Crozier | April 17, 2009 at 02:38 PM