RETAILERS ASK FTC TO INVESTIGATE CREDIT CARD INDUSTRY’S PCI SECURITY GROUP FOR ANTITRUST CONCERNS

In a 19-page white paper submitted to the FTC, NRF said the card companies use their market power to “unfairly leverage their brands and proprietary technology through webs of closely controlled interdependent bodies and compliance regimes” including the council. While portrayed as voluntary, the Payment Card Industry Data Security Standard requirements set by the council are “forced upon businesses that cannot refuse to accept credit and debit cards.”

Source: National Retail Federation June 2, 2016