Payments

Merchants in the United States pay some of the highest interchange rates or “swipe fees” in the world, costing merchants more than $80 billion each year. The global card companies, along with major issuers, establish these rates in an anticompetitive manner. While past regulatory reforms achieved by RILA have resulted in meaningful improvements, more is needed to reign in numerous anticompetitive practices. 
 
In partnership with the Retail Litigation Center, RILA is pursuing legislative and legal remedies. RILA is currently working with key regulators to encourage action that will enable retailers’ right to route online debit transactions over networks other than Visa and MasterCard signature networks. This will bring meaningful competition to online debit routing and save merchants hundreds of millions of dollars. The lack of routing options in the ecommerce environment has only been compounded during the pandemic, with American significantly altering their shopping behaviors. The Retail Litigation Center is looking at potential litigation routes to achieve compliance with the law. 
 
Tags
  • Supporting Free Markets and Fostering Innovation
  • Retail Works for All of Us
  • Payments

Related Content

Payment Innovation and Security

RILA has put together cybersecurity and privacy FAQs for the retail industry to help inform their policies and programs.

Read More

Payments Committee

Chief privacy officers and general counsel executives address payment issues affecting the retail industry.

Read More

Leading Retailers Want Action on Payment Reforms

Retail industry urges Federal Reserve Chairman Powell to take action on payment reforms.

Read More

Stay in the know

Subscribe to our newsletter