Report: Walmart, Target Urge Support For Credit Card Competition Bill

Saying swipe fees for credit cards in the U.S. are seven times higher than those in Europe, more than 1,600 merchants have reportedly signed a letter urging members of Congress to vote for a bill that would boost competition among credit card networks. The letter — which was organized by the Merchants Payments Coalition — was addressed to all members of Congress, and the retailers that signed it include Walmart and Target, The Wall Street Journal reported Wednesday (Sept. 14).