In the latest salvo in the battle over transaction pricing between retailer organizations and payment card processors Visa and Mastercard, the Merchants Payments Coalition (MPC) is now asking lawmakers to pass legislation that would allow additional payment networks to process bank card transactions — a move the MPC hopes will create competition and potentially lower the pain of credit card swipe fees.
The act would allow at least two unaffiliated networks to process credit card transactions that carry the Visa or MasterCard brand, such as……[read more]
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