May 5, 2020

Visa to delay U.S. interchange and fee changes, gas station requirement until April 2021

Visa to delay U.S. interchange and fee changes, gas station requirement until April 2021


Visa Inc.
V,
+1.30%

announced in a Tuesday afternoon blog post that it would be further delaying previously announced changes to U.S. interchange and fees until April 2021, except for planned interchange reductions in supermarkets. The company called this “the right decision to ensure the long-term stability of the digital payments ecosystem.” Visa said it will also delay further a requirement for gas-station owners to upgrade their payment terminals to support chip and contactless payments. The new deadline for that will be April 2021 as well. Visa shares were down 0.3% in after-hours trading Tuesday. The stock has dropped 5% so far this year as the Dow Jones Industrial Average
DJIA,
+0.56%

has declined 16%.



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