WASHINGTON D.C. — The National Restaurant Association (NRA) said it's pleased MasterCard will join Visa in disclosing its interchange fee schedules, but a spokesman said the group still hopes for more clarity when it comes to merchant rules.
"While we are pleased that both Visa, who began disclosing their rate schedules earlier this month, and now MasterCard now appear willing to post its fee schedule, we are still asking for full disclosure of all the rules by which merchants must abide," Todd Mann, senior vice president of business development at the NRA, said in a news release. "We will be demanding this disclosure in the litigation against Visa and MasterCard."
Mann said the restaurant industry will spend more than $3 billion this year on interchange fees and that it's critical to find a way to curb those costs for U.S. restaurant operators.
