Category: Debit Cards

Job Losses Possible Threat to MCA Industry / Google Penguin Kills Survivors / No Debit Card Savings

| May 6, 2012 | 0 Comments

How sure is this recovery? A few months ago, all signs pointed to a roaring recovery. As the data comes in each month, it’s looking less and less like a definitive thing. Sure the unemployment rate is going down, but mainly because hundreds of thousands of people are giving up on searching for jobs. The [...]

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30-Day Free Trial: Download of QuickBooks Point of Sale Software

| May 17, 2012 | 0 Comments

Did you know that QuickBooks offers a complete Point of Sale (POS) solution? Right now, it’s available as a free download (FREE 30-trial). QuickBooks is designed to speed up everyday tasks and give you the tools you need to grow your business. With QuickBooks POS you can: Process credit cards,…

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The Debit Interchange Fee Battle Continues…

| February 7, 2012 | 0 Comments

It’s the story that won’t ever die. First it was Dont Make Us Pay and now it’s Where’s My Debit Discount? It’s the latest campaign in an epic struggle between the big banks and congress. Unless you’ve been in a coma for the last two years, the Wall Street Reform and Consumer Protection Act passed [...]

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Law to Reduce Debit Card Fees to Retailers Has Opposite Effect

| December 12, 2011 | 0 Comments

We’ve had many negative things to say about the debit card reform law that went into effect a few months ago (AKA the Durbin Amendment). We’ve repeatedly made claims that retailers won’t participate in the savings but for the few that do, those savings won’t be passed on to the consumer. According to a recent [...]

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Legislators move to ban consumer debit fees

| October 28, 2011 | 0 Comments

To recover revenue lost from the cap imposed on debit card interchange fees by the Durbin Amendment to the Wall Street Reform and Consumer Protection Act of 2010, several big banks have instituted new consumer fees. In response, a growing number of bank customers are reportedly moving their accounts to less expensive financial institutions, and [...]

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Don’t Make Us Pay is Back at it Again

| October 21, 2011 | 0 Comments

After months of silence, we received a mass e-mail yesterday from the infamous dontmakeuspay.org: Tell Your Congressman: Repeal the Durbin Amendment! Take Action!  You know all too well the harm that the Durbin amendment on debit cards has caused to debit card users like you. Across America, we’re seeing higher fees, the end of free checking [...]

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Heartland offers Durbin impact insights

| October 13, 2011 | 0 Comments

Life under the Durbin Amendment to the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act has begun, and some merchant segments are seeing substantial benefits. But not all card-accepting businesses are faring well; those with large volumes of small-ticket items are paying more to accept debit cards than they were before Oct. 1, 2011. [...]

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Revenge for the Durbin Amendment

| October 3, 2011 | 0 Comments

The Durbin Amendment doesn’t lower costs for consumers, nor did it hurt the banks as much as it planned. But that isn’t stopping the banks from lashing out anyway. Bank of America is plowing ahead with a $5 monthly debit card usage fee on consumers. If you don’t use the card, there’s no fee, but [...]

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Debit after Durbin

| September 25, 2011 | 0 Comments

Is the Durbin Amendment the death knell for debit card programs? The answer depends on where one falls along the debit card food chain. Acquirers, ISOs, merchant level salespeople and regional EFT networks could fare well. Card issuers, consumers and smaller merchants may not be as fortunate. The Durbin Amendment to the Dodd-Frank Wall Street [...]

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Wells Fargo Quits Debit Rewards

| August 30, 2011 | 0 Comments

Wells Fargo Bank N.A. is again leading the industry in the rush to makeup losses imposed on the debit card industry by the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Wells Fargo recently launched a five-state trial of a monthly $3 debit card fee. The bank acknowledged the [...]

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Electronic Payments Industry changing Forever – All Points Bulletin!

| August 23, 2011 | 0 Comments

Electronic Payments Industry Changing Forever – ALL POINTS BULLETIN Posted on December 17, 2010 at 8:36 PM Attention business owners and to all those employed in the merchant processing and Merchant Cash Advance industry. The world is changing and not at the ‘global warming will one day kill us all’ pace. It’s happening right now. [...]

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