President Trump may be gunning to reform the Dodd-Frank Act, in particular one of the most contentious policies of the act: the Durbin Amendment. The Durbin Amendment—passed as a stipulation of the Dodd-Frank Act—allows the government to set price caps on fees for card transactions. Before 2009, interchange rates were set by banks and merchants […]
Trump to Repeal the Durbin Amendment Read More »
With the 2014 holiday shopping season about to grind down to the home stretch, the sales figures are already rolling in. And once again, online transactions have maintained their brisk and healthy growth from years past. Cyber Monday chalked up record sales, rising a reported 17 percent from 2012 according to USA Today. Cyber Monday,
Marketplace Fairness Act Looms [2023 Update] Read More »
Here at Host Merchant Services we guarantee to save our customers money every month on their credit card processing. We understand that some of you are wondering how we do this! Transparency is a key cornerstone of our customer service values, so we have no problem sharing our secret formula and show everyone out there
How to Save Money on Credit Card Processing Fees Read More »
Two years after the Durbin Amendment became law, the consequences of this historic legislation are still unfolding. In the coming months, new developments in Durbin implementation could lead to historically low debit swipe fees for merchants. Last July, U.S District Judge Richard Leon ruled on a Durbin-related lawsuit that pitted a consortium of retailers against
Durbin Debit Fees Revisited [2023 Update] Read More »
A new U.S District Court ruling could lead to major changes in debit card processing fees. Will the Durbin debit rates go lower with this? Let us understand. On July 31, U.S. District Judge Richard Leon swept aside the Federal Reserve‘s 2011 implementation of the Durbin Amendment. Passed in 2010, this amendment to the Dodd-Frank law was intended to
Can Durbin Debit Rates Go Even Lower? [2024Update] Read More »
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’s edition of the Official Merchant Services Blog will take a look into the newest data breach, involving NY-based Barnes & Noble Inc. Barnes & Noble revealed last week a “sophisticated criminal effort” had taken place at 63 stores, resulting in hacked PIN pad devices putting some of its customers at risk. The company discovered
Barnes & Noble Data Breach [2023 Update] Read More »
Today’s edition of the Official Merchant Services Blog will discuss the best way for merchants to save money on fees when accepting credit or debit cards for smaller transactions. Host Merchant Services is committed to bringing its clients the lowest fees in the industry. Our Small Ticket Program is a feature that helps us do
HMS Small Ticket Program Read More »
In this installment of the Official Merchant Services Blog, we look at the actions several retail trade groups and merchant advocates have taken to further the fight against the antitrust settlement proposed by Visa and MasterCard. We have touched upon this subject several times before, however these steps may have been the most drastic yet.
Durbin Double Down [2023 Update] Read More »
The Wall Street Journal, citing a document they obtained on September 20, revealed Bank of America has plans to cut 16,000 jobs by the end of the year. This move is not exactly surprising news since the company had already discussed plans to shave 30,000 jobs in a plan to trim jobs and cut costs
Bank of America Cutting Jobs Read More »
This is the latest installment in The Official Merchant Services Blog’s Knowledge Base effort. Well we want to make the payment processing industry’s terms and buzzwords clear. We want to remove any and all confusion merchants might have about how the industry works. Host Merchant Services promises: the company delivers personal service and clarity. So we’re going to take
Industry Terms: Debit Cards Read More »
Today The Official Merchant Services Blog is taking a look at a bill being debated on the U.S. Senate floor this week. Senate Bill 1832, also known as The Market Place Fairness Act could be the cause of the next big debate in the Payment Processing Industry. The Law of the Land In 1992 the Supreme
Ending Sales Tax Discrimination [2023 Update] Read More »
Today, The Official Merchant Services Blog is going to tackle a big picture topic in the world of credit card processing. Two weeks ago there was a proposed settlement of a lawsuit against Visa Inc., MasterCard Inc. Lawyers involved in the case claim it is the largest antitrust settlement in U.S. history. The card companies agreed to pay more than $6
The Big Cash Comeback? Read More »
Today The Official Merchant Services Blog takes a close look today at card association juggernaut and industry titan MasterCard. A card association is a network of issuing banks and acquiring banks that process payment cards of a specific brand, and along with Visa, MasterCard is one of the big wigs in the industry — Card associations Visa and MasterCard each comprise over 20,000 card issuing
MasterCard Site Tools Read More »
Today The Official Merchant Services Blog jumps feet first into an update on everyone’s favorite payment processing industry-focused legislation, the Durbin Amendment. We’ve covered the topic extensively since the blog began. You can read the Host Merchant Services in-depth and official analysis of the legislations itself by CLICKING HERE. The legislation took effect October 1, 2011.
Debit, Merchants and Durbin Read More »
The Official Merchant Services Blog takes a look at Visa’s wild ride between May 2 and May 3. In the midst of a very active first quarter of 2012, Visa’s earnings report came in. The San Francisco based credit card giant then took a ride on a roller coaster in the span of two days
Visa’s Ups and Downs Read More »
The Official Merchant Services Blog has just learned that Visa and MasterCard are planning to add new processing fees in the coming months — fees specifically targeted toward Debit Card Swipe transactions. These new fees, which we are consolidating and dubbing as “Card Association Fees” are going to complicate the pricing process for Merchant Services
Visa, MasterCard Add New Fees Read More »
Today The Official Merchant Services Blog offers a really quick update on the fallout from The Durbin Amendment. You’ll recall Host Merchant Services offered a thorough analysis of the legislation before it took effect. Much of the current media coverage for this topic revolves around something we predicted in that analysis: “The banks, not wanting
Durbin Amendment Fallout Read More »