WASHINGTON – Fees paid by retailers to banks for debit card purchases will be cut in half after the Federal Reserve voted Wednesday, June 28th to cap the charges. The new rules go into effect on October 1st.
“Congress has recently passed the Durbin amendment which is a landmark decision. This is the first time we have ever seen this large of a reduction in processing costs. This cuts the costs for Pin Based Debit and Signature debit almost in half. Pin based debit and signature debit combined make up to 50 – 70% of the processing in marketplace. Imagine paying up to 1.00% or half of what you currently pay on 50% -70% of the cards you process.
If you’re not completely satisfied, there’s no risk or obligation. You can cancel your services, at any time, with no penalty or termination fee.
It’s up to you to take action in your business and make sure you see these savings. Many processors are choosing not to pass through these savings. I can ensure you see the benefit of this cost reduction.
In addition, to ensure merchants success with this exciting new opportunity, we have put together a strong package, including a Merchant Signing Bonus and a new, No Early Termination Fee Policy.
To help ensure YOU want to take advantage of this opportunity to lock in the Durbin Amendment rates, we are offering the first ever “Merchant Activation Bonus.”
This can help YOU as a merchant make the decision to sign today and, if needed, use it towards growing your business, or even the early termination fee incurred from your previous processor.
For Free Rate Review and Savings Anylsis of your current processors fees
send a copy of your merchant statement Directly to: firstname.lastname@example.org
Questions: Call us! Toll Free: 1-888-848-6821 x 5903