Durbin and Rep. Peter Welch, D-VT, sent a letter to the companies this month urging them not to increase fees. The merchants’ trade group Merchants Payments Coalition has also been pressing the credit card companies to hold off on a hike that would cause retailers and merchants to pass increases to consumers.
Mastercard said it’s also delaying some fee increases that would have been directed at brick-and-mortar retailers, according to the Bloomberg report. Neither company immediately provided comment detailing which fee increases would be delayed. Visa had said previously that the contemplated increase would be the first major restructuring to its fees in about a decade.
