ETA Statement Regarding Appeals Court Decision to Side with Fed in Interchange Court Case

March 21, 2014 – Statement by Jason Oxman, Chief Executive Officer, Electronic Transactions Association (ETA), Regarding  Appeals Court Decision to Side With Fed in Interchange Court Case

The most welcome result of the D.C. Circuit’s decision today is the prospect that the financial industry and merchants can move past this longstanding litigation and resume our focus on providing the best possible services to consumers.  ETA has long held the view that the terms of business relationships should not be determined by Congress or the courts.  ETA believes that payments companies and their merchant customers share a common interest in deploying innovative new products and services that make commerce more secure and rewarding.  Although policy and legal battles in Washington will no doubt continue, we should all take today’s court decision as an opportunity to reflect on how much more we can accomplish, to the benefit of all, if we focus on building and renewing partnerships that help grow our businesses together.

About ETA

The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $4.5 trillion in purchases in the U.S. and deploying payments innovations to merchants and consumers.