Federal Ruling ’Positive Step’ in Swipe Fee Reform

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

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The Fight for Interchange Reform Continues

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

Prepaid Services

Blackhawk Network, a provider of prepaid and financial payments products offers PayPower, a suite of prepaid products and services designed to help consumers stay in control of spending with simple and safe solutions that provide value, transparency and budgeting. The suite of products is targeted to consumers looking for alternatives to traditional financial credit, whether

What’s Next With Swipe Fees?

“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,

Processing PCI Confusion

Many retailers are breathing a sigh of relief in regard to PCI, after this summer’s deadline for software compliance was relaxed after a request by the major oil companies, giving scrambling retailers a little more time to comply. But retailers be warned: chains that face a breach could still get hit with huge fines. “Some

Cumberland Farms Offers $3 Prepaid Cards

Cumberland Farms convenience store locations in New England, the mid-Atlantic and Florida are adding nFinanSe $3 Visa and $3 Discover Reloadable Prepaid Debit Cards. “By offering it’s customers a $3 Visa or $3 Discover Reloadable Card, Cumberland Farms will now be able to compete with any retailer on the basis of price for a reloadable

Keep Cash Flowing

  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

Swipe Fee Debate Builds

In a letter dated June 16, Representative Debbie Wasserman Schultz (D-FL) and 130 other members of Congress outline their concerns with the Durbin Amendment that gives retailers and consumers relief from outrageous swipe fees, NACS reported. They cite the benefits that all users of electronic payments systems receive and the “lack of Congressional review” of

Deadline Day is Here

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

Securing the Store

C-store operators are increasingly turning to advanced electronics to help stem the time of theft both internally and externally, including “smart” surveillance cameras and Internet-based security systems that can prompt and warn cashiers and track and record every store transaction. Stuart Levine, CEO of The Zellman Group in Port Washington, N.Y., a nationwide retail and

nFinanSe Announces Fee Reductions

nFinanSe Inc., a reloadable prepaid card provider, is reducing its fees to cardholders for ATM withdrawals and also for electronic bill pay transactions. The company believes that these reductions will encourage greater trial and usage of its Visa and Discover Reloadable Prepaid Cards and promote greater retention among cardholders. The company stated that it is

Fighting Credit Card Costs

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

Data Security Standards: Are You Prepared?

PCI compliance deadlines continue to barrel toward the convenience store industry, yet many operators are still not up to speed on precisely what they need to do, or how to do it. The Payment Card Data Security Standard (PCI DSS), developed by the PCI Security Standards Council and endorsed by American Express, Discover Financial Services,

Prepaid Cards: The Sky’s the Limit

Prepaid cards have been used in the U.S. for about 20 years, and forward-thinking marketers continue finding new ways to use and promote them. This is a boon for convenience retailers, many of whom have been instrumental in growing the category. Prepaid cards were invented in Europe in the mid-70s when Italians found themselves short

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