Thursday, January 26, 2006

Possible Bank-funded PR Blitz Planned (

While uncertain of the path charted to meet their unambiguous goal, The Credit Card Interchange Report - has observed a flurry of recent interest from the nation's largest and most powerful public relations firms. While pleased that we are regularly viewed by the most well-known influencers of media, their interest in our daily interchange news updates causeƂ’s pause and raises questions. How exactly will the bank-funded credit card associations counter our daily updates and commentary?

A typical rule for multi-national conglomerates is to remain silent and not draw attention to those providing commentary. But, in this case, there is simply too much interest and regular daily visits to think they are just going to stay on the sidelines.

Recently, we observed that visits to this site are lasting as much as one-hour, which means that the banks are either fearing our wrath and studying our leadership, or simply because we now have over 200 unique news and commentary postings to soak in.

The only thing more vast than the canyon of billable hours generated from these legal, PR and advocacy groups monitoring this site, is one question. How are they planning to attack our message which benefits millions of merchants and every cardholder who bares the burden from Visa and MasterCards' multibillion dollar annual hidden interchange tax?

With all this eager reading by the PR firms, perhaps one of them can share our recommendation with the companies paying their salaries? We urge that the full interchange fees be transparent and clearly posted on every charge and debit card receipt.

So far, no response from Visa and MasterCard.