Congress is fixated on Interchange fees, but that’s only a fraction of the real problem. Payment processors, POS providers, and software companies inflate costs through hidden markups, bundling, and anti-competitive contracts, leaving small businesses trapped. Until we demand transparency, break exclusivity, and cap processor margins, no amount of Interchange regulation will fix this broken system.

Senator Dick Durbin’s Credit Card Competition Act aims to end the Visa-Mastercard duopoly by requiring banks to support at least one alternative payment network. With support from VeriFee and trade groups, the bill targets reduced swipe fees, increased transparency, and restored competition. If passed, it could lower merchant costs and consumer prices, reshaping the credit card processing industry.

TIN and business name mismatches trigger costly IRS penalties and 24% backup withholding. CP2100 Notices alert businesses of discrepancies that must be corrected quickly using W-9 or IRS-issued documents. Failure to act results in withheld payments, state penalties, and compliance scrutiny. Precise name-TIN alignment is critical to avoiding fines, delays, and financial strain during tax reporting.

EMV compliance protects merchants from fraud-related chargebacks by shifting liability to card issuers when chip-enabled transactions are processed properly. Non-compliance isn’t illegal, but it leaves businesses financially responsible for fraudulent sales. Upgrading hardware to accept chip cards is essential to reduce risk, protect revenue, and meet modern consumer expectations—especially as magstripe-only cards become obsolete.

Mastercard’s updated Data Integrity standards now require all merchants to properly flag Cardholder-Initiated (CIT) and Merchant-Initiated (MIT) transactions. Non-compliance risks monthly fines starting at $2,500 and potential termination of Mastercard access. Merchants must update POS systems, replace outdated devices, and work with vendors to ensure compliance, preserving both transaction accuracy and long-term payment security.

The proposed reclassification of cannabis from Schedule I to III could reshape financial access for cannabis businesses, enabling banking, credit card processing, tax deductions, and research. While promising, it also introduces new regulatory hurdles, market competition, and oversight challenges. The shift marks progress—but success depends on strategic adaptation, especially for small businesses and fintechs entering a newly legitimized space.

Junk fees, including credit card surcharges, are drawing increased regulatory scrutiny for inflating consumer costs and eroding trust. In 2023, U.S. merchants paid over $100 billion in processing fees. Federal and state crackdowns on hidden and deceptive pricing practices are reshaping the landscape, making transparency and compliance essential for protecting margins and preserving consumer confidence.