CMS Payments Intelligence comissioned Kelso Consulting to help secure press coverage for a campaign it was leading to reduce the expensive and opaque “interchange” fees credit card companies impose on retailers.
It is a great example of how consultancy and professional advisors can generate strong relationships and an industry leadership position by leading campaigns for reform and better regulation.
CMS works with retailers to help them decipher the complex charges they incur when customers pay with plastic. Without specialist help the complex varieties of charges from the different providers and different situations would be completely opaque to retailers – despite it being a very large cost.
The increased popularity of paying with plastic means that this is a growing cost to retailers. On top of this, the card industry has steadily ratcheted-up the interchange fees - which are imposed on retailers with no room for negotiation. CMS Payments Intelligence believes the situation is unfair and also damages Britain’s high streets, which are already under severe pressure as shops steadily continue to close.
We deployed various tactics at short notice, and journalists particularly appreciated the expert briefings on this technical subject that we arranged for CMS to provide – significantly increasing the amount of coverage while also building strong goodwill for future initiatives from CMS. The success of the campaign and the associated press coverage was hugely impressive to the major retailers that took part, strongly building CMS Payments Intelligence's position as a leading expert and heavy-hitter.