MADRID | By Irene Matías | The world’s largest payment networks asked a federal judge in the U.S. District Court in Manhattan to rule that their practices for setting fees paid by merchants who accept credit and debit cards aren’t anticompetitive. Large retailers such as Wal-Mart Stores, Starbucks and Gap refuse any settlement and may bring additional lawsuits against the payment networks. But on top of all of this the real loser are the consumers.
card payment fees
Prof. Krzysztof Rybiński, rector at the Vistula Finance and Business Academy in Warsaw and ex-deputy governor of the National Bank of Poland: “If we lower card payment commissions, will supermarket chains lower their prices? As more information on this is available, I have become less and less convinced.”