GLG News Analyses of the following article:
Reducing Interchange Would ‘Pose Challenges,’ the GAO Says
Published at: www.digitaltransactions.net
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GAO Interchange Report: Reducing Rates will “Pose Challenges”
November 20, 2009
The GAO’s study on interchange was thoughtful, balanced, and light on recommendations. The inconclusive nature of the report reduces the likelihood meaningful legislative action will impact interchange in 2010. However, the combination of DOJ investigations, merchant class action litigation, and continued legislative efforts will collectively put increased pressure on these parties to enact payment system reform. Likely outcome could be a major interchange rate reduction in 2011.
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