For most Main Street retailers, credit and debit card swipe fees are among the highest costs of doing business. Upholding debit card swipe fee reform was a top priority for America's retailers in 2017.
With debit reforms now firmly in place, RILA is now focused on the anti-competitive policies in the credit card space where Visa and MasterCard use their overwhelming market power to stifle competition and charge outrageous fees.
Last year RILA and its member companies and partners executed an aggressive swipe fee campaign to reinforce the importance of competition in the payments market and defend these important reform. Click here to learn more about our campaign.
RILA has also engaged directly with the Federal Reserve (Fed) and Federal Trade Commission (FTC) to address the actions of Visa to circumvent merchants' routing options for online transactions. Further, litigation before the U.S. Supreme Court, Ohio v. American Express, challenges card networks' prohibition against allowing merchants to provide consumers incentives to use lower costs cards, actions that would engender meaningful competition in the credit card market where there currently is little.
This year, RILA and the Retail Litigation Center will continue to aggressively pursue all opportunities to bring competition to the electronic payments market, particularly the considerable anticompetitive behavior in the credit card market.