Content about Merchant services

September 26, 2012
NRF: Swipe fee reform saving up to $18 million per day

The National Retail Federation estimated that U.S. retailers and their customers are benefiting from savings of up to $18 million every day since the implementation of debit card swipe fee reform.

WASHINGTON — The National Retail Federation estimated that U.S. retailers and their customers are benefiting from savings of up to $18 million every day since the implementation of debit card swipe fee reform.

September 11, 2012
NRF seeks to block swipe fee suit settlement

The National Retail Federation is set to go to court in order to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over Visa and MasterCard credit card swipe fees.

WASHINGTON — The National Retail Federation is set to go to court in order to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over Visa and MasterCard credit card swipe fees.

September 13, 2011
Retail fraud incidence down, but dollar impact escalating

For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

NEW YORK — For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

According to the study, retail merchants and financial institutions reported an overall decline in fraud rates and transactions while total retail sales rose. Consumers also experienced a decline in fraud losses overall but the average time it took to resolve fraud issues rose by 57% and the out-of-pocket costs of fraud rose by $244.

June 8, 2011
New legislative amendment seeks to kill swipe-fee reforms

Sens. Jon Tester, D-Mont., and Bob Corker, R-Tenn., have offered an amendment to legislation that is designed to delay swipe-fee reforms.

WASHINGTON — Sens. Jon Tester, D-Mont., and Bob Corker, R-Tenn., have offered an amendment to legislation that is designed to delay swipe-fee reforms.

March 31, 2011
NRF welcomes consumer groups' opposition to swipe-fee reform delay

Just two weeks after expressing its discouragement caused by the delayed swipe-fee reform, the National Retail Federation lauded a letter from a coalition of consumer groups that also opposed the delay, which is slated to go into effect this summer.

WASHINGTON — Just two weeks after expressing its discouragement caused by the delayed swipe-fee reform, the National Retail Federation lauded a letter from a coalition of consumer groups that also opposed the delay, which is slated to go into effect this summer.

March 9, 2011
NACDS, NCPA express support of 'swipe fee' reform

The National Association of Chain Drug Stores and the National Community Pharmacists Association on Tuesday urged Congress to permit the Federal Reserve Board to expedite the implementation of an amendment to the financial-reform legislation.

ALEXANDRIA, Va. — The National Association of Chain Drug Stores and the National Community Pharmacists Association on Tuesday urged Congress to permit the Federal Reserve Board to expedite the implementation of an amendment to the financial-reform legislation from Sen. Dick Durbin, D-Ill., that would limit the fees charged to retail merchants on debit card transactions (known as “swipe fees”) to a level that is “reasonable and proportionate” to the costs incurred by the banks and credit card associations to process these transactions.

September 27, 2010
Fraud losses decline among retail merchants but still remain high

Retail merchants incurred more than $139 billion fraud losses during the past year, according to...

July 15, 2010
Senate passes financial reforms, draws praise from retail industry

The Food Marketing Institute on Thursday praised the Senate for approving the Conference Report to...

June 30, 2010
Industry applauds House passage of swipe fee legislation

Retail industry groups on Wednesday praised the House of Representatives for passing the Conference Report...

June 30, 2010
Swipe fee reform: Just what the industry ordered

This represents a significant victory for retailers from all sectors, if for nothing else than...

WHAT IT MEANS AND WHY IT’S IMPORTANT This represents a significant victory for retailers from all sectors, if for nothing else than it provides a little overhead cost stability in what continues to be a volatile economy.

(THE NEWS: Swipe fee fix draws praise from industry groups. For the full story, click here)

June 27, 2010
Swipe fee fix draws praise from industry groups

Financial-reform legislation that seeks to regulate and curb interchange swipe fees that cause unforeseen expenses...

June 17, 2010
Independents renew appeal to Congress for relief from rising card transaction fees

Concerned over what they call “exorbitant transaction fees and anticompetitive practices” by credit card companies,...