Credit Card Swipe Fee Fight Complicates Stablecoin Bill Passage

Credit Card Swipe Fee Fight Complicates Stablecoin Bill Passage

An effort by retailers and their allies in the Senate to mandate competition to Visa Inc. and Mastercard Inc. in credit card processing has complicated efforts to swiftly pass the stablecoin bill supported by the crypto industry and President Donald Trump.

Retailers take a swing at swipe fees - Floor Covering News

Scores of flooring retailers are potentially leaving tens of thousands of dollars on the table each year for not doing one simple thing—adding a surcharge to cover the cost of processing fees charged by credit card companies. It’s an issue that has many dealers talking about how best to handle the extra 2%-3% charged to the merchant after every credit card transaction. According to NerdWallet, it is legal in most states for businesses to charge …

How stablecoins become money: Liquidity, sovereignty, and credit

Three broad monetary structural and policy considerations to address while navigating the transition to stablecoins

Credit card swipe fee fight complicates stablecoin bill passage

Credit card war jeopardizes Trump-backed stablecoin bill

A fresh battle on Capitol Hill is throwing the fate of a bill that would define the future of digital money in the United States into question. A group of lawmakers is taking a fresh stab at breaking the Visa-Mastercard duopoly. Their amendment would force the largest banks to offer at least one alternative credit card network other than Visa and Mastercard, such as Discover. The idea is to boost competition and reduce retailers’ fees for every …