More Banks Move Away From Debit Card Fee Hikes

More banks have announced plans to stop charging additional fees for debit cards in response to customer sensitivities, according to The Wall Street Journal. The banks sought the fees to make up for losses resulting from fee caps imposed by the Durbin amendment. For the full story, click here

Editor’s Insight: More banks are responding to consumer sensitivities to the debit card fee hikes; this is a good sign for merchants of small ticket transactions, since it indicates the banks are paying attention to what customers want.

Another news item in today’s VendingMarketWatch reports that Bank of America Merchant Services, a credit and debit card processor, is working with the National Automatic Merchandising Association to persuade credit card associations to consider what impact their new fees will have on small ticket transactions. 11-01-11 By Elliot Maras