In a press release, the Merchants Payments Coalition says that "merchants welcome encouragement from Democrats and Republicans alike in support of HR 5546, the Credit Card Fair Fee Act, bi-partisan legislation that would end credit card industry price fixing, which is the subject of a hearing today by the House Judiciary Committee Antitrust Task Force."   » Continue Reading

PaySimple has announced the availability of PaySimple 2.0 that the company says 'helps small businesses bridge the technology gap, and to grow with the efficiency and cost-savings that large companies have, but with the customization and personal touch that small companies need.' With PaySimple Solution 2.0's Payment Processing Center, users have the ability to electronically collect payments via eCheck/ACH or credit card as well as pay their vendors via those channels from one system.   » Continue Reading

Merchant Link has announced that it has seen a significant increase in the adoption of its credit card payments security product, TransactionVault, by quick service, casual and table service restaurant organizations nationwide, including Perkin's, Zaxby's, Famous Dave's, La Madeline, and Ruth's Chris Steak House.   » Continue Reading

The Merchants Payments Coalition (MPC) has issued a press release favoring the legislation introduced today dealing with interchange fees. From the press release: "Today House Judiciary Committee Chairman John Conyers (D-MI) and Rep. Chris Cannon (R-UT) introduced the "Credit Card Fair Fee Act," legislation that for the first time deals with the biggest credit card fee of all - the interchange fee, which grew to $36 billion in 2006."   » Continue Reading

The Merchants Payments Coalition has begun running a series of advertisements in Washington newspapers in anticipation of a hearing on interchange fees scheduled to be held Thursday by the House Judiciary Committee's Antitrust Task Force.   » Continue Reading

The Merchants Payments Coalition says that "increases in credit card interchange rates announced by Visa last week average only 0.6 percent, but the $36 billion in total interchange fees consumers paid in 2006 will probably increase close to 20 percent this year" because of the movement of cardholders to premium credit cards that have higher interchange fees associated with them.   » Continue Reading

The Merchants Payments Coalition has announced that it views Visa, MasterCard and their affiliated banks as receiving a "one-day Valentine gift of $169 million this year because of hidden "interchange" fees collected on transactions during the holiday."   » Continue Reading

According to the Merchants Payments Coalition and a poll they commissioned, US consumers "overwhelmingly believe that Visa and MasterCard should disclose the $30 billion in hidden "interchange" fees they charge each year and consumers want Congress to do something about it."   » Continue Reading

The Merchants Payments Coalition issued a press release today welcoming today's release of a European Union (EU) policy report that calls for closer scrutiny of competition in the European retail banking sector.   » Continue Reading

The Merchants Payments Coalition (MPC) Legislative Committee Chairwoman Jennifer Hatcher today issued the following statement based on comments from Senator Christopher Dodd (D- CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, at this morning's Hearing titled "Examining the Billing, Marketing, and Disclosure Practices of the Credit Card Industry and Their Impact on Consumers."   » Continue Reading

The Merchants Payments Coalition issued a press release today saying that "an independent new report confirms that "merchants get nothing" out of programs that constitute nearly half of the $30.7 billion in credit and debit card interchange fees Visa and MasterCard collect annually in the United States."   » Continue Reading

Mallory Duncan, chairman of the Merchants Payments Coalition (MPC) and senior vice president and general counsel at the National Retail Federation, issued a statement yesterday following Visa's posting its interchange fees on its web site.   » Continue Reading

AccountingWEB.com reports on last week's testimony by attorney W. Stephen Cannon, representing the Merchants Payments Coalition, to the Senate Judiciary committee accusing Visa and MasterCard of violating federal antitrust laws through their practice of setting the interchange rates charged by banks to complete consumer transactions.

The Merchants Payments Coalition has announced that it "welcomes the decision of Senate Judiciary Committee Chairman Arlen Specter, R- Pa., to investigate credit card companies and their anti-competitive fee- setting practices in a hearing to be held later this month."   » Continue Reading

The Merchants Payments Coalition today issued a press release applauding the Federal Reserve Bank of Kansas City for holding a conference on credit and debit card interchange fees later this week. The conference on interchange rates is scheduled for May 4-6 in Santa Fe, New Mexico.   » Continue Reading