Mastercard and Visa Protest Reports of Increase in Merchant Credit Card Fees

by Mindy Cohn

Mastercard has denied rumors that the credit card company plans to increase merchant credit card fees. 

The news reported by the Wall Street Journal last week was that the increased fees could be expected to begin in October and again in April for both Visa and Mastercard.

"Mastercard is not raising interchange rates in the US this fall and has no plans to do so," a Mastercare representative said.

Visa also called the Wall Street Journal's report "misleading press coverage" in a blog post released today, reminding readers that despite strong growth in the use of its cards, overall interchange fees on Visa transactions have been flat for the past decade.

"Moreover, over the past three years," the blog reads, "Visa has introduced programs to lower interchange for the vast majority of small businesses in the United States. For example, last year, Visa lowered interchange 10% for 90% of US businesses to help with their recovery and growth."