Topics: Credit/Debit Fees

U.S. Court of Appeals Upholds Swipe Fee Settlement

Cash Management Reconciliation Tips for Your Travel Center

This term cash management sounds simple enough to start, but it can be one of the most challenging and complex tasks in your business. Failure to have proper controls and safeguards in place can result in a disastrous situation that will likely leave you in trouble. However, there are several steps you can take to improve your operation and increase efficiencies. Let’s start by breaking this into several key areas. More

Is Your Truckstop or Travel Center Ready for EMV?

Credit cards are now being issued with a small chip (called the EMV chip), and business owners across the country have had to update their point-of-sale systems to accommodate chip cards. The first point-of-sale requirements took effect in 2015, but another deadline is on the horizon. Fuel retailers have until Oct. 1, 2020, to install EMV chip-card readers at automated fuel dispensers. Here’s what you should know about EMV chip technology to ensure you’re ready by the 2020 deadline. More

Guidance on Visa, Mastercard Swipe Fee Class-Action Settlement

A federal Court has preliminarily approved a proposed settlement of a maximum of approximately $6.24 billion and a minimum of at least $5.54 billion in a class action lawsuit, called In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720 (MKB) (JO). The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws. A number of NATSO members who may be a part of this class have sought guidance as to how this process will proceed and what steps they should take as part of this process. More

Visa, Mastercard Face Next Fight In $6.2 Billion Settlement

In the largest-ever class-action settlement of a U.S. antitrust case, Visa and Mastercard agreed to pay between $5.54 billion and $6.24 billion to a class of more than 12 million merchants who accept the payment networks’ cards, according to a regulatory filing on Tuesday. More

American Express Prevails in Supreme Court Case

The U.S. Supreme Court on June 25 handed down a decision in the case of Ohio v. American Express, ruling that American Express did not violate the Sherman Antitrust Act. The decision comes after a long battle that started in 2010 when the U.S. Department of Justice (DOJ), in conjunction with several state attorneys general, brought the case against Visa, Mastercard and American Express arguing that the rules promulgated by the card networks preventing merchants from offering discounts were a violation of antitrust laws. More

Supreme Court to Hear American Express Antitrust Case

The U.S. Supreme Court said Oct. 16 that it will hear an antitrust case examining American Express’s rules that bar merchants from encouraging customers to use one credit card over another, a practice known as "steering." The decision offers new hope to retailers who for years have argued that American Express’s merchant agreements violate antitrust laws and result in higher costs for consumers. More

House To Drop Repeal of Debit Swipe Fee Reforms from Choice Act

Marking a major victory for retailers, Politico late yesterday announced that House Republicans plan to drop language from the Financial Choice Act that would have repealed the debit swipe fee reforms which have saved businesses and consumers billions since being implemented under the Dodd-Frank Wall Street Reform and Consumer Protection Act. More

House Committee Approves Legislation Repealing Debit Reform

The House Financial Services Committee on May 4 favorably reported the CHOICE Act, legislation that would roll back a number of the reforms in the Dodd Frank financial reform legislation, including debit reforms known as the Durbin Amendment that have been critical for retailers. More

House Committee to Continue Examining Debit Reform Legislation

On May 2, the House Financial Services Committee began examining the CHOICE Act, legislation that would repeal many provisions of the Dodd Frank Financial Reform Act, including critical debit reform provisions known as the Durbin Amendment. NATSO strongly supports the Durbin Amendment and is working to ensure that it is not repealed. More

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