Cardholders won’t support card fees legislation if it hits them in the pocket

 In its Tuesday press release, MasterCard unveiled the results of a new consumer survey, that found about 75% respondents believe merchants receive significant benefits from accepting payment cards, and that merchants should pay for those benefits. They consider the fees merchants pay for accepting credit cards are just a cost of doing business, and that merchants should pay those fees.

Thus, MasterCard started questioning 7-Eleven's recent consumer petition campaign that encouraged consumers to uphold new legislation to regulate interchange fees paid by merchants., 7-Eleven and other convenience store operators ran a highly questionable petition drive over the summer, encouraging customers to support legislation that would regulate the fees merchants pay for the many benefits they receive from accepting credit and debit cards. 

MasterCard research found, however, that many consumers would oppose the legislation once they recognized that it would cost them more through higher fees to use their payment cards. 

Research highlights include the following: 

• Even among initial supporters, 75% oppose the legislation when it would end up increasing the fees they pay for their payment cards; including 55% who strongly oppose it. 
• 73% say that “the cost of accepting credit card payments” is something merchants should pay as part of their costs of doing business. 
• 71% agree that it would not be fair for consumers to pay the merchants’ cost of operating a credit card system. 
• 73% agree that paying for card acceptance is a good investment for merchants because accepting credit cards helps their business.