Interchange Fees/Chargebacks

U.S. Senate Judiciary Committee Hearing – July 19, 2006

A July 19, Senate Judiciary Committee hearing on “Credit Card Interchange Rates: Antitrust Concerns?” examined the anticompetitive price-fixing practices of Visa and MasterCard, as well as the issue of transparency regarding the availability of the card companies’ operating rules.  To access witness testimonies and committee member statements and press releases click here.

Managing the cost of accepting card payments is an increasingly important issue for retailers because of growing card volumes, complex fee structures and increasing interchange rates.  As we continue to fight for a more competitive and transparent card system that works better for consumers and merchants alike we would like to share a number of resources currently available. 

• N.G.A.’s Financial Management Conference held May 17-19, 2006 conducted a workshop session with CSRSI, The Payment Advisors entitled “Assessing Consumer Payment Costs: Options and Solutions”, which outlines steps grocery retailers can take to reduce the cost of interchange. For more information or to see a complete review of the Financial Management Conference click here.
• The Association for Convenience & Petroleum Retailing recently released a resource guide on the growing problem of Chargebacks (aka “Reason Code 96”) for Fuel Center Operators.  This guide highlights the Chargeback process/disputes and suggests possible steps to take when dealing with Visa/MasterCard.