The Durbin Amendment debit card fee restriction took effect on Saturday, October 1st, but what does it mean for merchants? Check out the infographic below issued by Merchant Warehouse to get an easy to understand explanation. Be sure to ask your processor if it is passing the savings onto you since the legislation only affects the banks’ wholesale Interchange rate.
Durbin Amendment Simplified (Infographic)
Leave a reply
Your email address will not be published. Required fields are marked *
But what you have failed to notice is that Visa / MC no longer have discounts for the small ticket sales under $10. My fees have gone up 15 to 20 a month since Oct.1
So they are breaking the coffee shops and any other places people use their cards for under $10. think about how many times a day and how many swipes are for under !0.00 , billions I’s bet and the banks are taking more of my money.
When reporting on a subject like this , find out all the facts first.
article in NYtimes from a coffee shop owner about this problem we are having, it’s hard to decide what to do, not taking cards for under $10.00, charging everyone more, or just shutting the doors, selling gift card for 3-4 drinks or $10 then swiping/
You tell us, you all seem to be the smart f.
Copyright © CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.
Reader CommentsTell Us What You Think