Payments News

Corporate Treasurers Complain About Card Network Security Fees

Jun 11, 2018

Corporate treasurers at the Money 20/20 conference recently voiced concerns over a lack of competition in the payment card market, urging competition authorities to look at how key players dominate the space.

Reports in Euromoney on Friday (June 8) said corporate treasurers attending the Money/2020 conference, most of them U.S.-based, expressed frustration at merchant processing fees charged by industry leaders including Mastercard and Visa.

“Who is going to stop accepting Visa and Mastercard?” said Kohl’s Department Stores senior vice-president Troy Carrothers during the event. “Antitrust authorities need to look at the costs they are imposing on merchants.”

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