While the idea of your business accepting credit and debit card payments is nice, it’s important to fully understand the cost of such a venture.
Retailers scored a victory Wednesday when a federal judge tossed out a Federal Reserve rule on fees banks can charge merchants when they swipe customers’ debit cards, reports the Wall Street Journal. Saying the Fed did not do enough to limit the levies, the decision likely will force the Fed to slash those fees, further […]
The National Retail Federation (NRF) and 20 retailers have asked a federal judge to reject a proposed settlement over credit card swipe fees. The organizations allege it is an “evil” price fixing practice conducted by Visa and MasterCard, MultiChannel Merchant reports. According to an article in Bloomberg Businessweek, Visa, MasterCard and other card companies agreed […]
Participants in a recent conference call about the swipe fee suit insist that approval of the settlement would constitute a breach of due process.
October marked the one-year anniversary of landmark Federal Reserve regulations that cut the average debit card swipe fee collected by the nation’s largest banks.
Plaintiffs in the suit against Visa and MasterCard hope to rally against the swipe fee settlement.
Letter outlines reasons behind opposition to proposed settlement of antitrust lawsuits filed by merchants against Visa, MasterCard.
A settlement was recently proposed in a lawsuit against Visa, MasterCard and bank card issuers, which suggests that $6.5 billion be parceled out among plaintiffs in the class-action suit, plus another $1.2 billion to cover eight months of reduced merchant fees.
The Retail Industry Leaders Association (RILA) has criticized the proposed swipe fee settlement and urges class plaintiffs to reject the proposal.
A proposed settlement between Visa Inc., MasterCard Inc. and retailers offers $6.5 billion to retailers and a lower swipe fee for eight months.