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WayTooHigh.com - The Credit Card Interchange Report
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This site features the most comprehensive international breaking news, daily updates and commentaries on the history of merchant interchange fees. The goal in representing millions of merchants and cardholders is to reform an antiquated, costly and u
Recent Posts Tagged With 'interchange'
Merchants Rally Against Visa and MasterCard Fees
See below for a sample of signs that consumers, retailers and service station operators displayed during The Great American Rally Against Visa and MasterCard’s Fees on Gasoline. For an update on...
Rally to Stop Skyrocketing MasterCard and Visa Fees on Gasoline
Click here for Media Advisory NEWS RELEASE Consumers and Merchants Tell Congress to Support the Credit Card Fair Fee Act IRVINE, Calif.–(BUSINESS WIRE) Consumers and merchants alike will ral...
An International Prospective: 2007/08 REVIEW OF THE AUSTRALIAN CARD PAYMENTS REFORMS (Via Peter Mair)
When most were expecting the [Reserve Bank of Australia] RBA to step further forward and again confront a banking industry notorious for disregarding national competition policy in setting credit card...
Merchants Say That Visa Fee Cut is Less Than Meets the Eye
WASHINGTON, June 27 MPC-Visa-fee-cuts Credit Card Fees on Gasoline Might Actually Be Higher, Not Lower, Under New Visa Program WASHINGTON, June 27 /PRNewswire-USNewswire/ — Visa’s annou...
MasterCard: Greed or Fraud?
By bailing out the member banks, I wonder if the new MasterCard shareholders understand just how disingenuous the second largest electronic payment network is? From my prospective, Mastercard care...
At $50 Billion, Is MasterCard and Visa’s Member Banks’ Cartel Nearing its End?
The total annual merchant interchange fees continue to soar and reflect a growing discontinuity with the nation’s recession and realities that technology and efficiencies should be lowering fees. In...
“Just like the British in 1773, Visa and MasterCard Won’t Negotiate. Enough is Enough (Via UnfairCreditCardFees.com)
Just like the British in 1773, Visa and MasterCard won’t negotiate. Enough is enough. View “Tea Party Ad” print advertisement Credit card companies trap merchants and consumers wi...
Visa and MasterCard: How to Profit off a Devistating Natural Disaster
Visa and MasterCard Profiting From a Devastating Natural Disaster If you thought that Visa, MasterCard and thousands of banks were heartless by reaping windfall profits during our economic energy cris...
“As IPO Looms, Visa’s Outside Counsel [Arnold & Porter] See Litigation Bonanza” [Law.com]
Arnold & Porter. With millions of merchants, the fresh eyes of Washington, the European Union, nation’s around the world, and entrepreneurs like us, the question is: how can Visa, Mast...
“Retailers Welcome Antitrust Legislation Addressing $40 Billion in Hidden Credit Card Fees” (Via NRF News Release)
[Via Businesswire, March 6, 2008] WASHINGTON–The National Retail Federation today welcomed the introduction of landmark antitrust legislation that would address hidden MasterCard and Visa fees t...
More Windfall Profiteering - Barrel of Crude Oil at Record $105.97
Is anyone else wondering why there is silence as the banks, Visa and MasterCard are celebrating extraordinary windfall profiteering at the pumps? Crude oil reached another record high - $105.97, whi...
What is “Reason Code 96?”
From the National Association of Convenience Stores: Retailers also are hit with additional costs because of chargebacks, known as “Reason Code 96.” While retailers have not seen the speci...
Why Visa, MasterCard and its Member Banks Are Accused of Illegal Price-Fixing by Agreement
Repost from Nov 21, 2007. Click here ____________________________________________________ Want to know more about lead plaintiff ScanMyPhotos.com? Click here and read their daily blog: Tales from...
Visa and MasterCard’s Price Wars, Don’t Hold Your Breath
When was the last time you read about competition among the two giant credit card networks, which until recently were both co-owned by the same thousands of member banks? [The banks still control a ...
“MasterCard Files Appeal of European Commission Decision” (via MasterCard press release)
[Source: MasterCard Worldwide press release] MasterCard seeks to annul decision which would harm consumers and undermine European competitiveness and innovation WATERLOO, Belgium, March 3 /PRNe...
“Should You Join the Visa IPO Craze?” (via Charlotte Observer)
Click here to read the Sunday, March 2, article in The Charlotte Observer. It included a listing of considerations before investing in the pending Visa IPO which was written by reporter Christina R...
Visa and MasterCard’s Member Banks’ Weak Assessment of Interchange Litigation
If you thought the thousands of member banks failed miserably in how they extended billions in risky housing loans, that could end up being an understatement on the leadership in their executive sui...
President Bush Isn’t Aware of $4-a-gallon Gas, But We Are
We are troubled that at yesterday’s (Feb 28) Presidential news conference, Mr. Bush was surprised and unaware that Americans are paying nearly $4-a-gallon to fill up their cars. Click here to...
“Are Visa and MasterCard Hurting Capitalism?” (via RedState.com)
Click here to read blog posting from RedState.com...
Visa, MasterCard and the Banks Windfall Profiteering at the Pumps
——————————————– $101.11 It’s a record price at the pumps, which again raises the question: why are the b...
Thousands of Banks Pin Hopes on Visa Inc. to Bail Them Out
Here we go again. But, this time the ride is pitched at a much steeper angle than the previous MasterCard IPO. The thousands of banks which partly cashed out when they unloaded about half of the...
Visa Inc. IPO Largest in US History; First it was 5, then 10 and Now $18.8 Billion - That’s Some Rich Valuation Appreciation
Click here to read the AP story on Visa’s planned ~$19 billion IPO. click here to read Reuter’s story on the Visa Inc IPO [WayTooHigh.com Editor’s note: Investor’s, drunken wi...
UnfairCreditCardFees.com Advertisements
From the UnfairCreditCardFees.com website. Click below to view recent advertisements Americans pay 3 times as much in credit card fees as Europeans Ever wonder who pays for all that credit card junk...
“Significant Victory” Announced Against MasterCard by Class Plantiffs
A publicly filed Report and Recommendation on Feb 12 from Magistrate Judge James Orenstein is recommending to Judge Gleeson that the Court deny MasterCard’s motion to dismiss the Class Plaintiffs Su...
“EU’s McCreevy Pushes for New Payment Card Schemes” (via Reuters)
Click here to read entire (Jan 28) article by Reuter’s Huw Jones....
More Interchange Revenue Centers
Merchants already are forced to pay from upwards of one-hundred separate interchange fees. Few understand how these charges work, and even we didn’t know of one of the added chargeback program...
Credit Card Interchange Fees Article by Steven Semeraro
“Three Decades of Antitrust Uncertainty. Click here to view....
What Other “Networks” Charge $40 Billion Each Year?
We couldn’t help but take note that if the thousands of banks which own Visa and own a large amount of MasterCard (prior to the IPO it was total control), are operating on an antiquated network ...
Why Blogging Is More Like Writing a Check, Then Using a Credit Card
We just launched a new blog site [”Tales From The World of Photo Scanning’] for ScanMyPhotos.com, our nationwide super-fast photo scanning service. The idea came after one of the nation&...
More Windfall Profiteering At The Pumps
Today’s Los Angeles Times asks readers if they are ready to pay $4.00 a gallon? The article by Times staff writer Ronald White hints that “several factors point toward a nightmarish spri...