Now that card payments are a major force in the economy, a system had to be set up to move this “virtual” currency from customer to business. This system is the basis of interchange. The evolution of how customers pay businesses has changed dramatically over the past half-century or so. Cash was king during the […]
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Interchange fees make up a bulk of the credit card processing fees that a business will have to pay. This is why it is fairly important for managers or business owners to do everything possible to understand all about interchange fees. Interchange describes the money that is transmitted to the issuing bank from the acquiring
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Today the Official Merchant Services Blog brings you another update on the ongoing Interchange lawsuit settlement. We began talking about the possibility of ‘The Big Cash Comeback’ back when the settlement was first announced in July, and later we discussed the opposition to the settlement. Last week a federal appellate court denied a retailer’s appeal to review part of the controversial settlement
Interchange Settlement Update: Challengers Awaiting Final Approval Read More »
Today the Official Merchant Services Blog brings you the most recent developments in the ongoing credit card interchange settlement lawsuit. Merchants opposing the pending credit card interchange case filed an appeal last week challenging the court’s preliminary approval of a key part of the settlement. The appeal, filed by four merchants and seven merchant trade groups, asks the Second
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