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The change comes after a federal judge in February found that AmEx’s rules on the matter were anticompetitive; a separate court last month denied the company’s request to keep the rules in place pending its appeal.
That means starting this month, merchants will be able to offer discounts or rebates to customers paying with a card from Visa Inc. or MasterCard Inc. or display signs showing which card brand they prefer. Visa and MasterCard also could negotiate lower fees with certain merchants in exchange for the merchant agreeing to steer customers toward their cards.
Merchants, who pay a percentage of each card transaction to card-issuing banks, have long griped that they pay more when customers swipe an AmEx card than when they use other types of plastic.
Perhaps now would be a good time to review your merchant account services provider... in fact, Valued Merchant Services guarantees that we can reduce your costs of processing credit and debit cards. Simply provide us a copy of a current credit card processing statement from your existing merchant account provider or the best complete written merchant processing services quote you can find and we will beat it or give you $500. Contact us through our website to learn more: http://gplus.ly/1H8n4Dk
#AmEx #Visa #MasterCard #creditcard #merchantaccounts #business #POS
There is a lot of information and processing that takes place between the time you swipe your debit or credit card and the few seconds that it takes to get approved - but what EXACTLY is going on behind the scenes and how does it work? Our latest blog post helps explain the technology behind the swipe.
Read More: http://gplus.ly/1RUhLsG
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- Don Johnston SoftwareSysadmin, 2011 - 2015
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Researchers identify gene responsible for obesity and diabetes in old age.
Practically everyone gets fatter as they get older, however, according to a new study from researchers at Duke University some people can bl
Amid financial crisis, Apple offering Greek iCloud users a free month of...
Earlier this month, Greece instituted new regulations amid the country's financial crisis that blocked users from renewing iCloud subscripti