Merchants Payments Coalition Using UK Settlement to Demand Changes on U.S. Interchange Fees

Merchants are making a renewed push for action on interchange fees. The Merchants Payments Coalition (MPC) is calling on officials in the United States to do something about credit card interchange fees following an announcement that Amazon has agreed to continue accepting Visa credit cards in the United Kingdom.

“The challenge is even greater in the U.S., where swipe fee rates and the total amount collected are far higher than in the U.K.,” MPC said. “U.S. authorities need to look at what has happened between Amazon and Visa in the U.K. and realize that many retailers here feel the same. It’s time to bring about competition that will require the card industry to play under the same rules as other business.

“The big-picture significance of this dispute is that it has drawn attention to these high fees,” MPC continued. “It has shown that even the largest retailers are frustrated, and the situation is even worse for small retailers who don’t have the size and resources of Amazon that are required to stand up to an entity as powerful as Visa.”

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See also: CUNA's interchange resources