The Merchants Payments Coalition (MPC) earlier this week sent a letter to the House Financial Services Committee calling on it and Congress to investigate what the trade association calls Visa and Mastercard’s anti-competitive dominance over the U.S. credit and debit card markets.
The group, which represents convenience stores, gas stations, grocery stores, online merchants and other retailers, said that the financial giants represent clear examples of the need for greater competition to fight inflation as called for by President Biden in his State of the Union address.
