Topics: Debit/Credit Card Fees

You Have Questions. We Have Answers.

One of NATSO’s primary roles is to deliver solutions to members’ challenges. Each day members tap into the expertise of NATSO’s staff for answers to some of their most pressing questions. Stop Watch compiled some recent member inquiries and sat down with Darren Schulte, NATSO’s vice president of membership, for detailed answers. More

Merchants Criticize Federal Reserve Decision to Maintain Interchange Fee Standards

In issuing its bi-annual report on swipe fees as required by law, the Federal Reserve last week said it would keep the existing interchange fee standards and fraud prevention adjustments the same. The per-transaction cap remains at 21 cents and also allows for an additional charge of 0.01 cent to cover fraud as well as .05 percent of the sales amount. More

Credit Card Settlement Appeal Delayed Until Fall

The U.S. Court of Appeals has ruled that an appeal of the proposed swipe fee settlement should wait until after objections to the settlement are filed and heard next fall. That means that settlement notices to retailers across the country can continue to be distributed, and that retailers will have the opportunity to opt out of the monetary portion of the case and/or object to the proposed settlement. Notices will be sent to retailers who accepted Visa and/or MasterCard at any time between Jan. 1, 2004 and Nov. 27, 2012. Even if retailers submitted a declaration objecting to the proposed settlement last fall, they must respond to the notice and submit something in writing again if they want to opt-out of or object to the proposed settlement. More

Judge Denies Request to Block Preliminary Approval of Swipe Fee Settlement

A federal appeals court panel has denied an appeal aimed at reversing preliminary approval of the $7.25 billion settlement of the antitrust case against Visa and Mastercard. More

NATSO, Other Plaintiffs to Appeal Swipe Fee Settlement

To force merchants into an 'agreement' with Visa and MasterCard that leaves them worse off than without it -- that just goes against all notions of fairness. More

Swipe Fee Settlement is Granted Preliminary Approval

Despite unprecedented opposition from merchants, on Friday a federal judge gave preliminary approval of a $7.2 billion settlement of litigation against Visa, MasterCard and several large banks. More

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