Interchange fees

Mastercard and Visa's one-year delay is only a partial victory for retailers, who want the networks to have less power to set rates.

Visa and Mastercard are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic.

Sen. Dick Durbin, D-Ill., went after Visa and Mastercard during an antitrust hearing Thursday in Washington, suggesting the card brands have likely been looking for a way to increase fees and offset previous legal or regulatory pressure on their pricing structures.

The update, delayed from last year, would be the most substantial change to the interchange rate structure in a decade — and the card networks have not signaled plans to delay it further.

CardX, which enables merchants to add a fee for accepting credit cards, won by showing how its product provides transparency to consumers.

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify.

A showdown between megabanks such as JPMorgan Chase and the likes of Apple and PayPal could be the prelude to a broader fight.

In a post-Brexit move, Mastercard is raising interchange rates for card-not-present transactions on U.K.-issued cards when spent with European merchants.

The fees banks charge to merchants have skyrocketed because people are making more purchases using their credit cards during the pandemic. Lawmakers can cap these fees before they further eat into retailers' profits.

The U.K. Supreme Court has rejected Mastercard’s attempt to force individual lawsuits over claims the card brand overcharged consumers and negatively impacted competition for more than a decade.