The US Department of Justice (DOJ) has launched a probe into Visa’s new Fixed Acquirer Network Fee (FANF) as it appears to some that this new fee might be a retaliation against merchants for the debit revenue caps imposed by the Durbin Amendment. Typically DOJ probes take 9-24 months to resolve so relief is not imminent, but at least this new fee has gotten the attention of regulators so in our opinion MasterCard won’t be as quick to follow with a fee of their own.
Meanwhile Visa reported net operating revenues of $2.6 billion, a 15% increase over 2011, so it appears that even without the new FANF fees their balance sheet is strong and growing. Makes you wonder…
For details on the FANF fee, see the posting below.
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