Consumers paid more – and merchants pocketed the difference.

In Australia, where the government artificially regulated interchange, studies prove that merchants reaped the profits, leaving consumers with higher costs, fewer rewards, and no difference in cost at the register.

Highlights of a report by CRA International on Australia’s interchange regulation »

Australian consumers are now paying $480 million more in additional fees.

Australian merchants, on the other hand, are benefiting – to the tune of $850 million per year in higher profits.

Read the full report »

Don’t let Congress repeat the mistakes that were made in Australia.