ICYMI: Visa, Mastercard Prepare to Raise Credit Card Fees

Consumers, small businesses and merchants are all pushing back against Visa and Mastercard’s plans to increase credit card swipe fees. 

WSOC-TV in Charlotte interviewed Austen Jensen, Retail Industry Leaders Association’s senior vice president, government affairs Wed. after the WSJ reported Visa and Mastercard plan to raise swipe fees in April. 

“The Retail Industry Leaders Association is strongly against an increase, saying inflation, supply chain issues and the Russian invasion of Ukraine are making so many things more expensive.

““No one is out of the woods on this,” RILA’s Austen Jensen told Stoogenke. “It’s just unfortunate they’re going to do this at this really difficult economic time for the American consumer.”

“RILA says it’s urging the credit card companies to reconsider and lobbying federal lawmakers to intervene.””

The full story can be viewed here.

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RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.

RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.
 

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• Payments
• Public Policy
• Finance