Download or read book Credit Cards written by Alicia Puente Cackley and published by DIANE Publishing. This book was released on 2010-03 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a consumer uses a credit card to make a purchase, the merchant does not receive the full purchase amount because a certain portion of the sale is deducted to compensate the merchant¿s bank, the bank that issued the card, and the card network that processes the transaction. The level and growth of these rates have become increasingly controversial. This report reviews: (1) how the fees merchants pay have changed over time and the factors affecting the competitiveness of the credit card market; (2) how credit card competition has affected consumers; (3) the benefits and costs to merchants of accepting cards and their ability to negotiate those costs; and (4) the potential impact of various options intended to lower merchant costs. Illustrations.
Download or read book H R 2382 the Credit Card Interchange Fees Act of 2009 and H R 3639 the Expedited Card Reform for Consumers Act of 2009 written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2010 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Credit Card Interchange Fees written by Steven Semeraro and published by . This book was released on 2008 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Visa and MasterCard credit card networks require the banks (known as acquiring banks) to pay a portion of all purchases made with a credit card to the bank that issued the card. This fee, known as the interchange fee, is ultimately passed on by the acquiring bank to the merchants that accept credit cards. Because interchange fees are set collectively by all of the banks that issue Visa and MasterCard cards, and because they constitute about 75% of the fee paid by retailers to accept cards, they have long been suspect under the antitrust laws. In recent years, debate over interchange fees has intensified as competition authorities in other countries have begun regulating these fees, and merchants in the United States have filed a series of class actions challenging them under the antitrust laws. The cases have been consolidated by the Panel on Multi-District Litigation for pre-trial purposes. This article responds to six myths that have been advanced about credit card interchange fees that have the common theme of suggesting either that these fees raise no competitive concerns or that any valid concern could be easily remedied through cost-based regulation or merchant surcharging. This article demonstrates that these myths are untrue and that interchange fees raise serious competitive concerns for which there is no quick fix.
Download or read book Credit Card Interchange Fees written by United States. Congress. House. Committee on the Judiciary. Antitrust Task Force and published by . This book was released on 2008 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Credit Card Interchange Fees written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-22 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit card interchange fees : hearing before Antitrust Task Force of the Committee on the Judiciary, House of Representatives, One Hundred Tenth Congress, first session, July 19, 2007.
Download or read book Credit Card Interchange Fees written by United States House of Representatives and published by . This book was released on 2019-10-06 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit card interchange fees: hearing before Antitrust Task Force of the Committee on the Judiciary, House of Representatives, One Hundred Tenth Congress, first session, July 19, 2007.
Download or read book Credit and Debit Cards written by Richard J. Hillman and published by DIANE Publishing. This book was released on 2008-10 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fed. agencies, corp., and others are users of credit and debit cards, as both ¿merchants¿ and purchasers. Merchants accepting cards incur fees paid to banks to process the transactions. For Visa and MasterCard transactions, a large portion of these fees -- referred to as interchange -- goes to the card-issuing banks. Some countries limit these fees. This report examines: (1) the benefits and costs assoc. with fed. entities¿ acceptance of cards; (2) the effects of other countries¿ actions to limit interchange fees; and (3) the impact on fed. entities of using cards to make purchases. The author analyzed fee data and info. on the impact of accepting and using cards, interviewed officials of major card co., and 3 foreign gov¿ts. Includes recommendations. Charts.
Download or read book Interchange Fee Economics written by Jakub Górka and published by Springer. This book was released on 2018-11-29 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interchange fees have been the focal point for debate in the card industry, among competition authorities and policy makers, as well as in the economic literature on two-sided markets and on the regulation of market failures. This book offers insight into the economics of interchange fees. First, it explains the nature of two-sided markets/platforms/networks and elaborates on four-party schemes and on the rationale behind interchange fees according to Baxter’s model and its later refinements. It also includes the debate about the optimum level of interchange fees and its determination (“tourist test”), and presents the original framework for assessing the impact of interchange fee regulatory reductions for the market participants: consumers, merchants, acquirers, issuers, and card organisations. The framework addresses three areas of concern in reference to the transmission channels of interchange fee reductions (pass-through) and the card scheme domain (triangle: payment organisation, issuer, acquirer). The book discusses the effects of regulatory interchange fee reductions in Australia, USA, Spain, and, most specifically, Poland. It will be of interest to policy makers, card and payments industry practitioners, academics, and students.
Download or read book Credit card interchange fees written by Jean-Charles Rochet and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Interchange Fees and Payment Card Networks written by and published by . This book was released on 2009 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Credit Card Interchange Fees written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 2006 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Interchange Fees written by David S. Evans and published by CreateSpace. This book was released on 2011-09-22 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interchange fees have become increasingly controversial. These fees constitute the bulk of the cost that merchants incur for taking cards because most consumers pay with a card from a four-party system that assesses these fees. The total interchange fees paid by merchants have increased dramatically as consumers have switched to electronic payments. Merchants have complained, have filed lawsuits, and have lobbied governments to do something about this. Meanwhile governments around the world have intensified their examination of these fees. For example, the US Congress passed legislation in 2010 that required the Federal Reserve Board to regulate debit card interchange fees; the Reserve Bank of Australia decided to regulate credit card interchange fees in 2002 after concluding that a market failure had resulted in merchants paying fees that were too high; and in 2007 the European Commission ruled that MasterCard's interchange fees violated the EU's antitrust laws. The controversy raises two broad issues. The first relates to how payment card systems decide how much merchants should pay for taking cards either through the interchange fee for four-party systems or the merchant discount for three party systems. The second concerns whether the setting of interchange fees by private businesses results in a market failure and if so what if any regulation should be adopted to correct this market failure. This interchange fee debate helped stimulate a new literature on multi-sided platforms or what are sometimes called two-sided markets. Payment card systems serve as intermediaries between merchants and consumers and operate a platform that enables these two different kinds of customers to interact. It turns out that there are many other businesses that have similar features including software platforms like the iPhone OS, shopping malls, search engines, and exchanges. Economists have developed general models of multi-sided businesses and applied them to payment cards.
Download or read book The Economics of Payment Card Interchange Fees and the Limits of Regulation written by Todd J. Zywicki and published by . This book was released on 2014 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fresh off of the most substantial national liquidity crisis of the last generation and the enactment of sweeping credit card regulation in the form of the Credit CARD Act, Congress continues to deliberate, with a continuing drumbeat of support from lobbyists, a set of new regulations for credit card companies. These proposals, offered in the name of consumer protection, seek to constrain the setting of “interchange fees” - transaction charges integral to payment card systems - through a range of proposed political interventions. This article identifies both the theoretical and actual failings of such regulation. Payment cards are a secure, inexpensive, welfare-increasing payment mechanism largely unlike any other in history. Rather than increasing consumer welfare in any meaningful sense, interchange fee legislation represents an attempt by some merchants to shift costs away from their businesses and onto card issuing banks and cardholders. In particular, bank-issued credit cards offer a dramatic improvement in the efficiency and availability of consumer credit by shifting credit risk from merchants onto banks in exchange for the cost of the interchange fee - currently averaging less than 2% of purchase value. Merchants' efforts to cabin these fees would harm not only consumers but also the merchants themselves as commerce would depend more heavily on less-efficient paper-based payment systems. The consequence of interchange fee legislation, as Australia's experiment with such regulation demonstrates, would be reduced access to credit, higher interest rates for consumers, and the return of the much-loathed annual fee for credit cards. Interchange fee regulation threatens to constrain credit for consumers and small businesses as the American economy begins to convalesce from a serious “credit crunch,” and should be accordingly rejected.
Download or read book Credit Card Interchange Fees written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-02-06 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit card interchange fees : antitrust concerns? : hearing before the Committee on the Judiciary, United States Senate, One Hundred Ninth Congress, second session, July 19, 2006.
Download or read book H R 2382 THE CREDIT CARD INTERCHANGE FEES ACT HRG SERIAL NO 111 86 COM ON FINANCIAL SERVICES U S HOUSE OF REPS 111TH CONGRESS 1ST SESSION written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2010* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Credit and Debit Cards written by Office, U.s. Government Accountability and published by . This book was released on 2017-08-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal entities-agencies, corporations, and others-are growing users of credit and debit cards, as both "merchants" (receiving payments) and purchasers. Federal entities, like other merchants that accept cards, incur fees-called merchant discount fees-to process card transactions. For Visa and MasterCard transactions, a large portion of these fees- referred to as interchange fees-goes to the card-issuing banks. This statement addresses (1) the amounts of revenue that federal entities have collected using credit and debit cards and the costs of such acceptance, (2) these entities' efforts to reduce their interchange fee costs, including negotiations, and (3) the extent to which card network rules affect these entities and other card accepters' ability to reduce interchange fee costs. The information for this statement was drawn from Credit and Debit Cards: Federal Entities Are Taking Actions to Limit Their Interchange Fees, but Additional Revenue Collection Cost Savings May Exist (GAO-08-558) and Credit Cards: Rising Interchange Fees Have Increased Costs for Merchants, but Options for Reducing Fees Pose Challenges (GAO-10-45). GAO analyzed data on accepting and using cards from the Department of the Treasury (Treasury), Amtrak, the Postal Service, and General Services Administration (GSA); and interviewed non-federal merchants...
Download or read book The Scam of the Credit Card Monopoly written by Chuck Faw and published by Xlibris Corporation. This book was released on 2019-08-29 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is about the scam of the credit and debit card business. It covers the power of Visa and the card processors over the business and the power they have over the merchants. It is basically a whistle blower book to show mainly the merchants what is happening and why they pay so high of fees to accept credit and debit cards.
