The Merchants Payments Coalition (MPC) continues its campaign to persuade Congress to pass the Durbin-Marshall Credit Card Bill, which is seen as primarily benefiting large corporate retailers. Recently, MPC has made claims about interchange fees that they acknowledge are "difficult to calculate." In a Twitter post, MPC suggested that credit cards are increasing the cost of back-to-school supplies.
However, there are several points that contradict MPC's assertions:
1. Credit card rewards serve as a crucial support for working-class Americans.
2. Small businesses benefit from accepting credit cards.
3. Accepting cash can be more costly for small businesses compared to accepting credit cards.
Investing in new technologies and establishing national data security standards could strengthen the payment system.