Navigating Least Cost Routing: Find Savings and Develop an Optimal Payments Strategy
As 2023 brings the introduction of online routing, followed by mobile wallet routing enablement in 2024, Least Cost Routing (LCR) is rapidly transforming the payments game for Australian merchants and the savings opportunity has grown to an estimated $840m AUD annually.
CMSPI’s insightful infographic reveals the remarkable savings opportunity of LCR, obstacles that may make LCR difficult to achieve, and how CMSPI, the go-to payments advisors for leading merchants, can guide Australian businesses in overcoming these obstacles and obtain significant savings.
Reserve Bank of Australia Confirms Least Cost Routing Could Reduce Merchant Debit Costs by 20%
Claims Filing Deadline May 31st Fast Approaching in Payment Card Interchange Settlement: Monetary Award of $5.54 to $6.24 Billion Available to Merchants
In December 2019, the Courts approved a monetary award in U.S. antitrust litigation between merchant Plaintiffs and Visa, Mastercard, and large U.S. bank Defendants. Merchants interested in claiming settlement payments must file claims no later than May 31, 2024. This settlement opportunity is distinct from the March 2024 proposed injunctive relief settlement.
Credit Card Competition Act Could Result in Annual Savings Upward of $16.4 Billion
CMSPI estimates pro-competitive policies on U.S. debit have saved merchants and consumers billions.
Assessing the Proposed Visa and Mastercard Settlement in the Context of Recent Fee Increases
In March, a proposed settlement for U.S. merchants accepting Visa and Mastercard card transactions was released, representing a major milestone in a nearly two-decade class action lawsuit. The proposed settlement would require the networks to introduce 4 and 7 basis point decreases to published and average domestic credit interchange fees, respectively, but how do these decreases compare to recent fee increases for U.S. retailers?