Retail Industry Leaders Demand Action Against High Payment Processing Costs
Highlights:
- Major retailers are urging the EU to address exorbitant Visa and Mastercard fees.
- The high costs are impacting retail profitability and consumer prices.
- Retailers seek regulatory measures to enhance competition in payment processing.
A coalition of leading retailers has formally requested the European Union to intervene in the soaring fees imposed by Visa and Mastercard. These costs not only affect merchants but also trickle down to consumers, influencing overall market prices. Retail leaders argue that regulatory action is necessary to foster competition and alleviate financial burdens on businesses. By addressing this issue, the EU could significantly impact the retail landscape and consumer spending.
