The interchange fee debate took an interesting turn after a former McDonald’s employee in Pennsylvania sued the hamburger chain for refusing to pay her in anything but a debit card. A detailed report by the Citizen’s Voice newspaper revealed that the Shavertown McDonald’s forces workers to be paid only one way: with a payroll debit…
Swipe Reform Saving Up to $18 Million A Day
“Retailers know that if they don’t pass along the savings the store across the street will,” says NRF president. With the first anniversary of debit card swipe fee reform approaching next week, U.S. retailers and their customers are benefiting from savings of up to $18 million a day that previously went to card companies and…
NRF To Fight Swipe Fee Settlement
“The proposal is a lose-lose-lose for merchants, consumers and competition,” says NRF CEO. The National Retail Federation’s Board of Directors has authorized the Federation to go to court to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over skyrocketing Visa and MasterCard credit card swipe fees that cost consumers hundreds of dollars…
Cumberland Gulf Group Opposes Settlement With Visa And MasterCard
“We support bringing real competition and transparency to the credit card market, and this proposed settlement clearly fails to meet this objective,” says Ari Haseotes, president and chief operating officer of Cumberland Farms Inc. The Cumberland Gulf Group opposed the proposed settlement of longstanding antitrust litigation between retailers and the credit card industry. The proposed…
NACS Refuses To Accept Proposed Antitrust Settlement With Visa And MasterCard
“NACS does not accept this proposed settlement, and we reserve the right to fight it if other class representatives do accept it,” says Henry Armour, NACS president and CEO, on the proposed settlements between merchants and credit card companies. NACS rejected the proposed settlement of antitrust litigation between merchants and the credit card industry. NACS…
Could Real Swipe Fee Relief Be On the Way?
Some speculate Visa and MasterCard could settle lawsuit before September Court date. Visa Inc. and MasterCard Inc. are reportedly prepared to settle a seven-year lawsuit brought by retailers, regarding swipe fee costs, sometime late this month—even as soon as next week, Bloomberg reported. The deal may include payments to retailers and a temporary cut in…
POS in Your Palm
Mobile technology is changing the retail landscape, offering a bevy of options for retailers to consider. By Erin Rigik, Associate Editor. In today’s ever-evolving world of mobile payment technology, anyone with a mobile phone can take credit card payments, from a neighbor running a garage sale to an entrepreneur building a small business. Now, this…
USA Today Deflates Banks’ Swipe Fee Myths
Makes strong case for credit-card reform. In a news story today, USA Today exposed some of the myths banks propagate about hidden, exorbitant “swipe” fees the banks charge retailers when customers buy with credit or debit cards, the Merchants Payments Coalition reported. The article also makes a strong case for reforming the way Visa and…
Visa Raises “No Signature” Limit to $50, Enhances Merchant Fraud Protection
Visa Inc. said it plans to raise its Visa Easy Payment Service “no signature required” limit from $25 to $50 for two key U.S. merchant categories. Starting in October 2012, discount stores and grocery stores/supermarkets in the U.S. can accept Visa cards for transactions up to $50 without requiring a cardholder signature or PIN, or…
ExxonMobil To Reward Speedpass Customers
A 15-cents-per-gallon rebate is available for 60 days after customers register online. Speedpass customer appreciation days are back. To express appreciation to customers, ExxonMobil is repeating a favorite promotion of 15-cents-per-gallon rebate of gas purchased with a registered Speedpass account. Beginning today, customers may register their Speedpass accounts at Speedpass.com/save to earn discounts for a…