The National Association of Convenience Stores (NACS) called the Dec. 16 release of the Federal Reserve’s proposed rulemaking related to debit card swipe fees a “positive step” and said it will continue to push for the reforms demanded by Congress and consumers alike. While no interchange fees should be allowed on debit transactions, the Fed’s
The long and winding road to controlling credit card fees took yet another turn on Oct. 12, 2010, when TCF National Bank, a subsidiary of TCF Financial Corp., filed a lawsuit challenging the constitutionality of the Durbin Amendment, which was included in the Wall Street Reform and Consumer Financial Protection Act of 2010, also known
“Since credit cards were introduced more than 60 years ago, no one dared step in to challenge the powerful banks. We did. And we got change,” said NACS President and CEO Hank Armour in his Opening General Session address on Oct. 6 at the NACS Show. NACS’ “audacious goal” to fight swipe fees, said Armour,
Cash Solutions is offering a free equipment promotion to retailers opening a merchant account that could attract more customers by allowing them to accept Visa and MasterCards. The new VeriFone Omni 3740 is shipped to a retailer programmed and ready to use, with all the processing capabilities needed for a compact point-of-sale terminal with
Coinstar Inc. announced an agreement between Coinstar E-Payment Services Inc. and Charter One for Coinstar to distribute the universal Charter One MasterCard Gift Card through Coinstar gift card malls. The program offers consumers the convenience and flexibility of being able to usethis card at millions of locations where Debit MasterCard is accepted. The balanced
A baker puts two muffins in an oven. The first muffin turns to the other and says, “Boy it’s hot in here.” The second muffin screams, “Yikes, a talking muffin.” Hopefully convenience store chains are not nearly this surprised when it comes to this month’s PCI deadlines. However, at the NACStech conference in April, several
Is there relief ahead for exorbitant credit card fees? The answer is yes. But first, there’s a fight to be fought. According to NACS in Alexandria, Va., credit card payments have grown from 21% of transactions in 1995 to 49% today, with the trend expected to grow to more than 50% by next year. The
Savvy c-store operators are using customer loyalty/scan-data-analysis programs to improve merchandise planning, forecasting and point-of-sale (POS) data management, and to provide a technology platform for long-term growth. When done well, the inevitable result is to empower store personnel to react quickly, make more informed decisions and improve cost effectiveness, so they can simplify customers’ lives.