More than 1,600 merchants, incl Walmart and Target are urging US lawmakers to pass legislation that aims to break it Visa and Mastercard more than the credit card market.
The bill, which Sen. Richard Durbin (D., Illinois) and Senator. Roger Marshall (R., Kan.), introduced in July, would give merchants the right to route many credit card payments through networks other than Visa and Mastercard. In a letter this week to all members of Congress, merchants said the proposed legislation would increase competition, leading to lower fees they pay when they accept credit cards.
