Digital Transactions News, a publication covering the digital transactions industry, reported that MasterCard Inc. and Visa could “squash small tickets” by applying the maximum debit card interchange fees allowed by the Durbin amendment. For the full story, click here.
Editor’s Insight: This week, VendingMarketWatch has carried several stories relating to the news that interchange fees for vending transactions are expected to increase due to the Durbin amendment.
The National Automatic Merchandising Association is currently speaking with debit card issuers to see if modifications can be made.
Another news item in today’s VendingMarketWatch reports that merchants of small ticket transactions (which include most vending machines offering cashless card readers) have been adversely affected while merchants of high ticket transactions have reaped a big windfall.
The new interchange fees could be very detrimental to the growth of cashless vending unless changes are made. 10-06-11