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I am intrigued to read that the bill will allow merchants to take 'a seat at the negotiating table'.
This is seemingly OK as merchants supposedly suffer from high merchant fees, generated by high interchange fees.
However, in other countries where authorities played with legislation to reduce the interchange fees, often this led to increased card membership fees or reduced services on the card (see Australia).
This is what the GOA report seems to show.
Then I think that if the bill passed, cardholders should have their say as well in the negotiations to counterbalance the extra power merchants would gain with such a law.
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