ARLINGTON, VA - On behalf of the food industry, FMI – The Food Industry Association is extremely pleased that VISA and Mastercard decided to postpone planned increases in interchange fees this year. Leslie Sarasin, president and chief executive officer at FMI, offered the following comment:

“At a time when our economy is struggling to recover from the harsh impacts of the pandemic and businesses are fighting to keep their doors open, stores clean and associates safe, major credit card companies made the right decision to call off these harmful and unwarranted fee hikes. FMI commends their announcement and hopes Visa and Mastercard decide to make this postponement permanent. We remain committed to advocating for reforms in the credit card market that will bring true competition and transparency to the payments space.”