Big Card Issuers Should Voluntarily Reduce Interchange Rates

The National Restaurant Association has asked Congress to mandate the reduction of credit card interchange fees during the current crisis; writing in Forbes Ron Shevlin of Cornerstone Advisors says Visa, Mastercard and American Express should volunteer to give up their portion of interchange fees; Shevlin estimates eliminating fees could potentially save hundreds of millions in 2020; he also describes a number of other reasons why this could be good for the big card issuers; voluntarily giving up fees reduces the need for Congress to engage in the battle; while the argument that the money will not reach consumers is valid the move would still be a public relations win for the companies; when renewals come up this could help position the companies in a better light and secure deals faster; everyone should be chipping in these days and this is a chance for these companies to do the right thing. Forbes

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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