Statement from Jeff Tassey, chairman of the board of the Electronic Payments Coalition, on SCOTUS’s Ohio v. American Express decision:
“EPC applauds today’s Supreme Court ruling for establishing once and for all that the electronic payments system is a two-sided market and for clearly explaining how it operates. As card networks serve both consumers and merchants, regulation favoring one harms the other. Today’s decision establishes the need for policymakers to account for the interdependent nature and competitive realities of two-sided markets, undo harmful regulation, and reject future attempts by one party trying to gain unjust benefits at the expense of the other. Because electronic payments provide businesses and consumers with great benefits, we must ensure nothing impedes the ability of card networks to balance the interests of both sets of customers.”