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MSNBC The Beat With Ari Melber June 4, 2024 22:42:00

the ticket price of a transaction. so last year when tooid was $10 a bottle, they charged 2%. this year it s $12 a bottle. they charged 2% of $12. they make more money. but they are not just sitting back. they are going for more. they are actually planning visa and mastercard planning to hike up the swipe fees. so maybe money off the higher ticket price, but then headed for more. i want to go through a couple of these because you have so many of the receipts. the ceo of a big company fgs asked about whether they would ever bring prices back down if the price of raw materials comes back down. a lot of this is presented generally to the public through fairly proeconomic agenda, as hey, this has to happen. it goes up and down, it s all kind of out there magic. here was the answer. we re not going to be give ing the pricing back. they also cannot argue that our competitors are not pricing. so i m really pleased our sales

Ticket priceSwipe feesMastercard planning

MSNBC The Beat With Ari Melber June 4, 2024 22:41:00

are exploiting the p and and and so to the extent driving up ticket and benefit to us, so that is benefit of the inflation. they maybe one of the only ones. i m joined by the executive writer of ground work, lindsey owen. she was the first of the group to report on some of these earnings calls. she wrote about it for the new york times discussing for inflation and who is paying for it. and let s go through a couple of these starting with what we just heard from visa. how is that different from a small business that has to keep up with rising costs. the implication being there s something else going on. it s really good to be visa and the ceo you just showed were not shy about it visa makes their money on swipe fees. that s a fee that they charge on

U sLindsey owenThe new york timesGround workExecutive writerEarnings callsSmall businessLet s goSwipe feesExit visa

Merchants Say It s Time for Fed to Resolve Debit Routing and Fees

The urgency to address swipe fees amid near-record inflation is more pronounced than ever.

United statesJerome powellLael brainardPhilip jeffersonDoug kantorLisa cookNational retail federationUs senateMerchants payments coalitionA senate judiciary committeeFederal reserveFederal reserve chairman jerome powellChairman powellLeon buckNational retailSenate judiciary committee

FMI, NGA, NRF speak out against higher swipe fees in Senate testimony

Giant Eagle’s Laura Karet says chain has been ‘paying higher and higher fee costs’

United statesRobert yeakelRoger marshallRichard durbinGreg ferraraBeth van duyneLaura karetStephanie martzPeter welchGiant eagleNational retail federationFinancial services leon buckFood industry associationUs senate judiciary committeeSenate judiciary committeeJudiciary committee

Independent Grocers Urge Swipe Fee Reform, End to Anticompetitive Tactics From Major Card Networks

Independent Grocers Urge Swipe Fee Reform, End to Anticompetitive Tactics From Major Card Networks
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United statesRobert yeakelGreg ferraraNational grocers associationUs senate committeeSwipe feesDebit card systemsChairman dick durbinRanking member chuck grassley