Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Jeweler brings Midwest to the Southwest
    Tara Fine Jewelry: Atlanta’s not-so-secret, best-kept secret
    Finding the Big Ones; Zambian Trophies for the Ages
    The Golden Girls of Gemstones
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    NDC Education Partner Program
    Mystery shopping results reveal opportunity for proactive consumer natural diamond education
    Jewelers of America announces 2023 GEM Awards winners
    jeweler
    ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training
    skull rings
    KIL N.Y.C. introduces the Cranium Ring
  • Podcast
  • Columnists
    The Story Behind the Stone: Diamonds on Pins and Needles
    Jewelry Marketing Survival Guide
    The Story Behind the Stone: Out of the Blue
    What’s Hot Now!: Latest Designer Trends 2023
    A Winning Strategy: How SEO and buying intent can skyrocket your sales
    business people shaking hands
    Networking for small business owners
    Is the customer always right?
    Successful Custom: A Clean Disaster
    Brad Huisken
    A quick note about technology
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Jeweler brings Midwest to the Southwest
    Tara Fine Jewelry: Atlanta’s not-so-secret, best-kept secret
    Finding the Big Ones; Zambian Trophies for the Ages
    The Golden Girls of Gemstones
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    NDC Education Partner Program
    Mystery shopping results reveal opportunity for proactive consumer natural diamond education
    Jewelers of America announces 2023 GEM Awards winners
    jeweler
    ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training
    skull rings
    KIL N.Y.C. introduces the Cranium Ring
  • Podcast
  • Columnists
    The Story Behind the Stone: Diamonds on Pins and Needles
    Jewelry Marketing Survival Guide
    The Story Behind the Stone: Out of the Blue
    What’s Hot Now!: Latest Designer Trends 2023
    A Winning Strategy: How SEO and buying intent can skyrocket your sales
    business people shaking hands
    Networking for small business owners
    Is the customer always right?
    Successful Custom: A Clean Disaster
    Brad Huisken
    A quick note about technology
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Latest News Other News

Merchants welcome reported DOJ investigation of Visa debit card routing issues

March 22, 2021
Share on FacebookShare on Twitter
Reading Time: 3 minutes

MPC Card(WASHINGTON) – The Merchants Payments Coalition (MPC) welcomed published reports on Friday that the Department of Justice is investigating whether Visa is engaging in anticompetitive practices related to how debit card transactions are routed for processing.

“The MPC has been concerned about these practices to limit debit routing for years and it’s great to see the Department of Justice looking into it,” MPC spokesman J. Craig Shearman said. “Limits on routing have been an issue both for in-store and online transactions, but routing for online transactions is particularly important at a time when online shopping has accelerated so rapidly during the pandemic.”

The Wall Street Journal reported that DOJ is looking into whether Visa has limited merchants’ ability to route debit transactions to other card networks, which often offer lower “swipe” fees to process the transactions.

Under the Durbin Amendment, passed by Congress in 2010, debit cards issued in the United States are required to include at least two unaffiliated networks ensuring routing options for merchants. That usually includes either Visa or Mastercard plus one or more competitive debit networks. The routing provision in the law was a response to Visa and Mastercard signing exclusivity contracts with issuing banks removing competition from the market.

Card processing fees are one of merchants’ highest costs after labor and drive up prices for goods and services paid by the average U.S. family by hundreds of dollars a year. Processing fees for Visa and Mastercard debit cards totaled $19.7 billion in 2019, according to the Nilson Report, a trade publication that follows the card industry.

About MPC

The Merchants Payments Coalition represents retailers, supermarkets, convenience stores, gasoline stations, online merchants and others fighting for a more competitive and transparent card system that is fair to consumers and merchants.

Related Posts

NDC Education Partner Program

Mystery shopping results reveal opportunity for proactive consumer natural diamond education

March 20, 2023
jeweler

ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training

March 20, 2023

Jewelry Marketing Survival Guide

March 15, 2023
JCK Industry Fund announces over $250,000 allocated to 2021 grant recipients

JCK Industry Fund announces 2023 grant recipients

March 15, 2023

Latest News

Columnists

The Story Behind the Stone: Diamonds on Pins and Needles

March 20, 2023
Other News

Mystery shopping results reveal opportunity for proactive consumer natural diamond education

March 20, 2023
Industry Events

Jewelers of America announces 2023 GEM Awards winners

March 20, 2023

Other News

ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training

KIL N.Y.C. introduces the Cranium Ring

Jewelry Marketing Survival Guide

JCK Industry Fund announces 2023 grant recipients

How to drive more sales and referrals through social media

IGI moves to expanded New York offices and gem laboratory

Southern Jewelry News

© 2022 Southern Jewelry News.

Additional Information

  • About
  • 2023 Jewelry Trade Shows & Events
  • Media Kit
  • Contact
  • Sitemap
  • Newsletter Signup

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Podcast
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription

© 2022 Southern Jewelry News.