Bank of America Merchant Services recently advised the National Automatic Merchandising Association (NAMA) that it continues to work with the major credit card associations to find relief for small ticket clients, which includes vending operators, following recently announced changes to debit card interchange fees under the Durbin Amendment.
“Bank of America Merchant Services acknowledges the significant impact of the recent small ticket interchange rate adjustments to your business,” the company noted. “Both our senior leaders and NAMA leadership are engaged to provide updates and formulate responses as the situation develops.
“Bank of America Merchant Services has been an active advocate on behalf of our entire small-ticket client base (including NAMA) impacted by these changes. In addition to our own direct communications with MasterCard® and Visa®, Bank of America Merchant Services has made specific requests to both card organizations to engage NAMA executives in a direct dialogue regarding this issue.
“We believe both card organizations are actively evaluating the small ticket marketplace based on the feedback and relief requests they have received. We have been assured by MasterCard® and Visa® executives that they understand the pressure these rate adjustments place on businesses like yours. We remain optimistic that a more favorable outcome will be reached for NAMA Members impacted by these small ticket interchange adjustments. We will continue to work with NAMA’s senior leadership to keep you informed as the situation develops and official positions are communicated by the card organizations.”