Regulatory brawl over debit cards sidesteps the real fee-setters: card companies

By Amy Biegelsen

Lobbying brawl sidesteps the real fee-setters: card companies

Excerpts from this story referencing "MasterCard":

"… ase of debit card processing fees, aggressive competition between Visa and MasterCard to win banks’ business has helped keep swipe fees high and resulted in a …"

"… the actual processing fees. That’s up to companies such as Visa Inc. and MasterCard Inc., which dominate the card payments industry.The fees that banks charge …"

"… omists.Critics, including dozens of large merchants who are suing Visa and MasterCard, say the underlying competition between the two card companies helped …"

"… in, lead attorney in a merchants’ class action lawsuit accusing Visa and MasterCard of anti-competitive behavior.Whether a customer’s bank is JPMorgan Chase …"

How much does it really cost to process debit card purchases?

By Julie Vorman

How much goes for processing?

Excerpts from this story referencing "MasterCard":

"… of 50 cents.Exactly how much it costs big U.S. banks to process a Visa or MasterCard debit card transaction has long been murky – until the Federal Reserve s …"

"… ents per swipe.The processing fee is set by card networks such as Visa and MasterCard, which typically issue confidential fee schedules to member banks twi …"

MasterCard, Visa settle antitrust case with DOJ; AmEx fights on

Visa and MasterCard today agreed to sweeping changes that will allow merchants to offer discounts to customers who pay using the least-expen

Excerpts from this story referencing "MasterCard":

"… g close attention to how American Express responds to the lawsuit. …"

"… inst the companies, and the now-settled antitrust lawsuit against Visa and MasterCard could mean better prices for customers and cost-savings for merchants.At a …"

"… news conference today,Attorney General Eric Holder said that the Visa and MasterCard settlement, if approved, will allow retailers to pass along more options a …"

"… erican Express from taking advantage of the discounts and rebates Visa and MasterCard now can allow as a result of our settlement. Because American Express has …"

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Will new debit card fee controls revolutionize card industry?

Debit and credit card fees that retailers must pay to Visa, MasterCard, and American Express may soon fall thanks to three converging events

Excerpts from this story referencing "MasterCard":

"… r’s card-issuing bank charges the merchant a fee that is set by Visa and MasterCard. These fees average about 1.6 percent, including the lower-fee debit cards …"

"… hange fees generated nearly half of Visa’s $3.17 billion net revenue and MasterCard’s $2.38 billion, according to Bloomberg News.Consumers, however, never s …"

"… officials to try and influence the debate over interchange fees. Visa and MasterCard argue that the interchange fees are necessary to cover the cost of transfe …"

"… r of long-running multi-billion dollar class action lawsuits against Visa, MasterCard, and AmEx. Merchants argue that the card companies’ restrictions are ant …"

Retailers accuse AmEx of antitrust breach as battle over debit card cap heats up

Retailers in a long-running lawsuit against American Express Co. over charge card swipe fees are now accusing the card giant of violating an

Excerpts from this story referencing "MasterCard":

"… stry.In a settlement with the Department of Justice last October, Visa and MasterCard agreed to free retailers from similar steering restrictions. AmEx, which w …"

"… other credit or debit cards. Otherwise, the government deal with Visa and MasterCard doesn’t mean much. Any merchant that accepts AmEx would be violating tha …"

Bankers take debit fee duel to friendly territory in House

By Julie Vorman

Bankers dueling with retailers over a Federal Reserve plan to limit debit card processing fees took the fight into friendly territory today

Excerpts from this story referencing "MasterCard":

"… transaction fee, including repeat sessions with Bank of America, Visa, and MasterCard.Rep. Peter Welch, a Vermont Democrat, spoke on behalf of retailers, who su …"

"… other big retailers have been unable to negotiate reductions with Visa and MasterCard because the two companies regard banks as their chief customer, Seltzer sa …"

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Credit union study of swipe costs adds confusion to debit fee battle

By Amy Biegelsen

Big credit unions say processing costs 2 cents per swipe, lower than Fed's planned 12-cent cap

Excerpts from this story referencing "MasterCard":

"… reported, processing fees are set by card networks such as giants Visa and MasterCard. Card issuers eager to win new banks as customers raised fees in recent ye …"

Visa, MasterCard in $6B settlement over card fees

By The Associated Press

Visa, MasterCard and banks reach $6B settlement over card fees

Excerpts from this story referencing "MasterCard":

"… rCard rose 3.7 percent. …"

"… way Inc. and Walgreen Co. began filing price-fixing lawsuits against Visa, MasterCard and other banks. The retailers claimed the credit card issue …"

"… average about 2 percent of the price of a purchase. Visa and MasterCard make money on the fees that stores pay for each customer that uses credit …"

"… ir costs for accepting the cards. But up until now, Visa and MasterCard have banned stores from charging customers who use credit cards more. Merc …"