#InterchangeFees — Bluesky Posts

@citizenptnewsga.bsky.social

1 week ago

Senate committee debates bill to bar interchange fees on state and local sales taxes Senator Echols’ SB 512 would prohibit merchants from being charged interchange (swipe) fees on the tax portion of transactions. Retailers backed the measure as fairness and cost relief; banks, credit unions and processors warned of fraud risk, technical complexity and market interference. The committee took testimony but did not vote.

Senator Echols is challenging the unfair practice of charging swipe fees on state taxes, which could save Georgia retailers millions—will this bill bring the change they need?

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#GA #CitizenPortal #EconomicFairness #FraudProtection #InterchangeFees #GeorgiaRetail

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Profit Trading USA

@profittradingusa.bsky.social

8 months ago

Visa and Mastercard interchange fees violate competition law, UK court rules Investing.com -- Visa (NYSE:V) and Mastercard (NYSE:MA) default multilateral interchange fees charged to retailers violate competition law, according to a London tribunal ruling on Friday. The Competition Appeal Tribunal in London unanimously determined that the multilateral interchange fees set by both global payment processors breach European competition law. This decision comes as part of linked lawsuits brought by hundreds of merchants against the payment giants. "This is a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard," said David Scott, global managing partner of law firm Scott+Scott, which represented the claimants in the case. Both payment processing companies expressed disagreement with the tribunal’s decision. Visa and Mastercard have indicated they plan to seek permission to appeal the ruling. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Click Subscribe #Visa #Mastercard #InterchangeFees #CompetitionLaw #UKCourt

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C

@buckthetrent.bsky.social

1 year ago

The American mind cannot comprehend…
#interchangefees #visa #mastercard

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Uday

@udaychandra.bsky.social

1 year ago

Just paid $195 for pest control... or wait, $201.96 because apparently my credit card is also a pest that needs controlling. 🙄 FedNow, where you at?
#InterchangeFees #DeathByAThousandFees

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Peter V. Tretter 🇨🇦

@ap236.ca

2 years ago

Deal to lower Visa, Mastercard processing fees will come up short for many retailers, critics say | CBC News bit.ly/3uNCFJT #CFIB #InterchangeFees #Visa #Mastercard #Walmart #cdnpoli

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