Cross Posted from PaymentsU.com You might think that after half a century of having little or no control over the fees they pay to accept card payments, retailers would be demanding that all mobile commerce products and NFC-enabled systems support tender steering. They are not. Retailer associations have been virtually silent on the topic, and there [...]
Tag Archives: Interchange Fees
Fri 05/06/2011 - 03:16
Sat 12/18/2010 - 02:11
Fed proposes 12-cent cap on debit interchange fees * Wants more comment on fraud-prevention costs * Proposal is called for in Dodd-Frank reform law * Promotes competition among card networks * News sends Visa and MasterCard shares tumbling (Rewrites with further details, comment; updates shares) By Dave Clarke and Maria Aspan WASHINGTON/NEW YORK, Dec 16 [...]
Thu 05/20/2010 - 02:11
Cross-Posted from Yahoo News by By JIM KUHNHENN, Associated Press Writer WASHINGTON – Striking at a lucrative bank business, the Senate on Thursday voted to force credit card companies to reduce fees for debit card transactions and permit merchants to offer customer discounts based on their payment method. The 64-33 vote inserted the fee requirement in [...]
Wed 05/19/2010 - 02:42
Cross-Posted from Digital Transactions The gap in acceptance costs between PIN-based and signature debit, once wide, continues to narrow, payments executives say. The trend is most apparent in the new interchange schedules for Visa Inc.’s Interlink electronic funds transfer network and the signature-based Visa check card. A number of Interlink rates are rising by percentages [...]
Wed 04/14/2010 - 02:24
You may think you understand your card processing statement and what you pay for these services. Chances are, you probably don’t know the whole story. Deciphering your monthly card processing statements is not an easy task. They’re complicated — which makes it hard to determine the real rates and fees you pay. The National Restaurant [...]
Fri 02/19/2010 - 01:46
As posted by Digital Transactions (February 9, 2010) Americans now spend more than half a trillion dollars a year on PIN-debit cards, but the merchant-acquiring industry is still adjusting to consumers’ embrace of point-of-sale. At the same time, debit card pricing is shifting from a simple, flat-fee model to a more complex one, which is [...]
Fri 10/09/2009 - 07:37
October 8, 2009 as posted on Digital Transactions Rested after their recent skirmish over 7-Eleven Inc.’s anti-interchange petitions, the interchange partisans went at it again Thursday in Congress. The battleground this time was a House Financial Services Committee hearing on the bill from U.S. Rep. Peter Welch, D-Vt., that would require more interchange disclosures and [...]
Sat 09/19/2009 - 01:34
Consumers Believe the Merchant Benefits of Accepting Cards Outweigh Cost; Retailers Would Pocket Checkout Fee Profits at Consumers’ Expense; Tips on Avoiding Harmful Fees at Checkout San Francisco, September 17, 2009 as posted on visa.com Consumers believe retailers benefit far more from accepting credit and debit cards than they pay in costs, according to a [...]
Fri 09/18/2009 - 09:40
As posted by Digital Transactions on September 17, 2009 Merchants turned up the heat on banks and the bank card networks on Thursday by releasing a report showing that interchange fees in the U.S are much higher than in other countries, and arguing that policymakers in the U.S. should regulate interchange as have their counterparts [...]
Fri 07/10/2009 - 08:19
July 9, 2009 Source: CardLine  Members of the payments industry continue to weigh in on 7-Eleven Inc.’s consumer-petition drive calling for legislation to curb interchange (CardLine, 7/6, 7/7). In a statement issued to CardLine this week, Visa Inc. officials called 7-Eleven’s campaign to gather more than 1 million signatures by Aug. 10 “puzzling and [...]
Fri 07/10/2009 - 08:14
By Maria Aspan July 9, 2009 Source: American Banker  A sustained tide of consumer anger about all types of bank fees is adding momentum to the long-running merchant campaign against interchange. Merchants have been trying for several years to make the fees they pay for accepting credit and debit cards a consumer issue. In [...]
Tue 07/07/2009 - 09:22
July 6, 2009 Source: CardLine  Franchisees of 7-Eleven Inc. are collecting customer signatures on petitions calling for Congress to regulate interchange, CardLine has learned. “Ask Congress to stop credit card companies from charging unfair transaction fees to the businesses you shop,” say displays at checkouts of 7-Eleven stores. Below the displays are signature books [...]
Wed 07/01/2009 - 11:48
As posted by DigitalTransactionsNews A move by United Air Lines Inc. to shift to certain travel agents the costs and other responsibilities for ticket sales on credit cards has the industry in an uproar and has prompted a leading trade association to file a letter with the U.S. Department of Justice asking the agency to [...]
