PURCHASE, N.Y. — MasterCard International has taken steps, which it hopes will placate merchants and take some wind out of the sails of its critics.

Merchants and sympathetic lawmakers have been complaining that both Visa's and MasterCard's regulations and interchange rates are too complicated and not transparent. Now MasterCard has announced that it will publish all the interchange rates that apply to U.S. merchants taking their cards and will cap the interchange charged to petroleum retailers.

Card brand critics have suggested that Visa and MasterCard have kept the interchange rates too secret and petroleum retailers have recently been complaining about the additional cost of interchange in the face of higher gasoline prices.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.