Electronic Payments Coalition Statement on GAO Report on Credit and Debit Cards

WASHINGTON, May 15 /PRNewswire-USNewswire/ -- The Electronic Payments
Coalition commends the GAO study released today that enumerates the
invaluable benefits that the federal authorities have by accepting and
using recognition and debit entry cards.

This study have been released as some members in United States Congress advocator placing
price controls on the electronic payments industry. By providing illustrations of
other states where such as as as terms controls have got been attempted, the report
reveals flaws in such an attack and exemplifies the harmful personal effects on
consumers that resulted in such attempts.

Through the usage of recognition cards, the federal authorities have been able to
improve the efficiency and direction of U.S. taxation dollars through reduced
costs associated with bad bank checks and even hard cash thefts.

The federal authorities not only benefits from using recognition cards, but also
from accepting recognition card payments. Entities such as as Amtrak, the U.S. Postal
Service, and the U.S. Batch reported increased gross -- particularly online
-- owed to recognition and debit entry card acceptance.

The GAO also establish that the federal authorities have proactively worked to
reduce its disbursals associated with card use, including obtaining one of the
lowest interchange rates available. Notably, these rates have got stayed
relatively stable in recent years.

The Electronic Payments Alliance and its members trust that the benefits
of recognition and debit entry entry card usage demonstrated in this study will further convince
Congress that intercession in this operation marketplace would be noxious to all
participants in the recognition and debit market.

About Electronic Payments Coalition

The Electronic Payments Alliance is dedicated to protecting consumer
value, choice, and competition in electronic payments systems. The coalition
is a broad-based communal of payment card networks, fiscal services companies,
and fiscal services trade associations whose primary end is to educate
policy-makers, consumers, and the mass media about the value of electronic payments
systems -- including economical growth, convenience, speed, reliability, and
security -- and to guarantee the continued growing of planetary commercialism by promoting
consumer pick and the stableness of the huge payment webs that connect
millions of consumers with billions of retail merchants each and every day.

SOURCE Electronic Payments Coalition