Debit Cards

Largest Merchant Acquirers of 2013

April 12, 2014
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According to the Nilson Report, the 10 largest merchant acquirers of 2013 were: 1. Bank of America 2. Chase Paymentech Solutions 3. First Data 4. Vantiv 5. Elavon 6. Wells Fargo Merchant Services 7. Citi Merchant Services 8. Global Payments 9. Heartland Payment Systems 10. WorldPay The only 2 changes in the top 10 were: […]

What Debit Card Interchange Reform?!

August 1, 2013
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After years of debating over the law to cap debit card interchange fees and its eventual enactment, a federal court has struck it down. The 21 cent cap is gone but not because it was deemed unfair to banks but because the court thinks the cap should be even lower. Story about it on CNN […]

ETA Expo Recap

May 3, 2013
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Recap of the ETA Expo as it pertains to Merchant Cash Advance: Just about every funder has an ACH program or is working on implementing one. Many funders are licensed lenders or are working to become licensed in the states where it may be necessary. There actually seemed to be a lot of excitement about […]

Credit Card Purchases with SafeKey

March 24, 2013
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SafeKey is a nice little feature that American Express is now offering. A password is required in order to make an online purchase with the card. My question is, why isn’t this mandatory for all credit card purchases with all cards? 99% of the time, no one questions whether or not I am the person […]

Your Life or Your Bank Statements

February 20, 2013
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bank statemetn

“Um, I don’t feel comfortable sending them to you because they’re private.” One of the most interesting things I experienced as a broker and underwriter is the amount of times I heard merchants tell me their bank statements were too private to send in. I understand it’s not exactly the same thing as telling someone […]

Avoiding Credit Card Fraud

January 7, 2013
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credit card fraud

Many small businesses that weren’t able to utilize traditional credit card processing services are delighted to find that there are now applications where they can accept credit card payments using a smart phone. However, before you jump on the bandwagon, it only makes sense to do your due diligence as to how to avoid credit […]

Job Losses Possible Threat to MCA Industry / Google Penguin Kills Survivors / No Debit Card Savings

May 6, 2012
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How sure is this recovery? A few months ago, all signs pointed to a roaring recovery. As the data comes in each month, it’s looking less and less like a definitive thing. Sure the unemployment rate is going down, but mainly because hundreds of thousands of people are giving up on searching for jobs. The […]

The Debit Interchange Fee Battle Continues…

February 7, 2012
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It’s the story that won’t ever die. First it was Dont Make Us Pay and now it’s Where’s My Debit Discount? It’s the latest campaign in an epic struggle between the big banks and congress. Unless you’ve been in a coma for the last two years, the Wall Street Reform and Consumer Protection Act passed […]

Law to Reduce Debit Card Fees to Retailers Has Opposite Effect

December 12, 2011
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We’ve had many negative things to say about the debit card reform law that went into effect a few months ago (AKA the Durbin Amendment). We’ve repeatedly made claims that retailers won’t participate in the savings but for the few that do, those savings won’t be passed on to the consumer. According to a recent […]

Don’t Make Us Pay is Back at it Again

October 21, 2011
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After months of silence, we received a mass e-mail yesterday from the infamous dontmakeuspay.org: Tell Your Congressman: Repeal the Durbin Amendment! Take Action!  You know all too well the harm that the Durbin amendment on debit cards has caused to debit card users like you. Across America, we’re seeing higher fees, the end of free checking […]

Revenge for the Durbin Amendment

October 3, 2011
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The Durbin Amendment doesn’t lower costs for consumers, nor did it hurt the banks as much as it planned. But that isn’t stopping the banks from lashing out anyway. Bank of America is plowing ahead with a $5 monthly debit card usage fee on consumers. If you don’t use the card, there’s no fee, but […]

Electronic Payments Industry changing Forever – All Points Bulletin!

August 23, 2011
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Electronic Payments Industry Changing Forever – ALL POINTS BULLETIN Posted on December 17, 2010 at 8:36 PM Attention business owners and to all those employed in the merchant processing and Merchant Cash Advance industry. The world is changing and not at the ‘global warming will one day kill us all’ pace. It’s happening right now. […]

Debit Card Costs May be Put on the Consumer: Don’t Make Us Pay

August 23, 2011
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Originally published on February 18, 2011. Back on December 17th, 2010, we published an article outlining the alarming terms of Debit Card Fee Reform. If you haven’t read up on what’s happened, the Federal Reserve has imposed a pricing cap on the cost a retailer pays to do debit card transactions. It’s scheduled to go […]

Say Goodbye to Debit Cards

August 23, 2011
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Originally Published on March 11, 2011. We’ve been saying it since December 2010, that Debit cards will cease to exist when the new Wall Street reform laws go into effect. On February 18th, we argued that the cost of a debit card transaction would shift from the retailer to the customer. You can view that […]

Debit Interchange Fee Study Act: A Few Good Senators Try to Stop the Madness

August 23, 2011
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Originally published on March 17, 2011. What started as a citizen revolt against Wall Street to both punish them for the previous recession and prevent another one, has now morphed and devolved into a personal battle that threatens to eliminate the use of money altogether. JPMorgan Chase, one of the largest card issuers in the […]

Debit Card Rewards Go the Way of the Dinosaur

August 23, 2011
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Originally Published on March 23, 2011. And yet another one of our predictions is unfolding….say goodbye to Debit card rewards! Back on December 17th, we specifically stated this would be one of the many casualties caused by the Federal Reserve price cap. On March 21, 2011 one of the largest card issuers in the world […]

Wells Fargo, Chase, SunTrust Cancel Debit Rewards Program

August 23, 2011
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Originally Published on March 28, 2011. And the damage continues:   “March 26, NEW YORK (CNNMoney) — Debit card rewards programs are vanishing at several major banks. Wells Fargo said Friday that it will no longer offer its debit rewards program for new customers. This will go into effect March 27 at Wachovia and April […]

Interchange Regulation and Reduction: Proof it will fail

August 23, 2011
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Originally Published on April 16, 2011. As proponents and opponents debate debit card fee reform, few seem to be aware that interchange regulation has been implemented before and the results were disastrous. In 2000, The Reserve Bank of Australia (RBA) published a 90 page report (A STUDY OF INTERCHANGE FEES AND ACCESS) that outlined their […]

Debit Card Fee Reform is Gaining Steam in Canada

August 23, 2011
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Originally published on April 18, 2011. Emboldended by the looming implementation of debit card fee regulation in the U.S., Canadians seem to have entered the ring. According to TheSpec, “Canadian retailers are calling on Ottawa to regulate the credit and debit card industry, saying voluntary measures have failed to reduce their costs.” Previous attempts to […]

The End of Debit Cards is Real

August 23, 2011
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Debit card fee reform isn’t just a silly debate between businesses and banks. CBS News discusses how consumers will be impacted. Undecided or against this reform? read more and get involved at dontmakeuspay.org. Forceful, harmful regulation isn’t the only solution to lowering the cost of debit card payments. We would love to hear your feedback! […]