In the December 2008 edition of Transaction World Magazine, Merchant Warehouse President and Co-CEO, Henry Helgeson, is cited as he shares his views about the proposals for government regulations in the credit card industry.
The article, "To Our Next President: Rough Seas Ahead," talks to the current state of the US financial market, addresses how it has and could affect the credit card processing market, stressing the fact that legislation may ultimately be prompted to regulate. Many industry players anticipate increased policing on the merchant acquiring industry and pricing issues, and have already begun planning ahead. Others, like Helgeson, are not confident in any legislative bill being passed to adjust Interchange fees because of the detrimental revenue impacts it may have with the financial institutions.
However, it is widely recognized that merchatns are becoming more concerned than ever about the rising costs to process transactions due to Interchange fees, which may become one of the hot issues of 2009. "If and when regulations are enforced, legislation must maintain a balance to ensure there is enough room for opportunity and growth on both the merchant and acquiring sides," suggests Henry.
Right now, with the PCI security regulations in full effect, it seems that the acquiring side is perfectly capable of regulating itself, but only the future will tell.