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Merchants Payments Coalition welcomes Biden executive order on competition

( July 9, 2021, 20:31 GMT | Official Statement) -- MLex Summary: The Merchants Payments Coalition welcomed an executive order on competition signed by US President Joe Biden, calling for applying its principles to address the lack of competition in the payments market. “Swipe fees charged by the credit and debit card industry are anti-competitive and harmful to Main Street businesses. With this executive order, we welcome action by the Department of Justice, Federal Trade Commission, banking regulators and other agencies to bring an end to anticompetitive practices in the payments industry,” NACS General Counsel and MPC Executive Committee member Doug Kantor said in a statement. Statement follows below:...

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