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Issue Date: Vol. 51, No. 12, December 2011, Posted On: 11/22/2011


NAMA: Debit Swipe Fee Resolution Is Imminent


Emily Jed
Emily@vendingtimes.net
National Automatic Merchandising Association, NAMA Cashless Solution, mall-ticket debit card transactions, vending, vending machine, ank of America Merchant Services, debit card swipe fees, Durbin Amendment, 2010 Dodd-Frank Act

CHICAGO -- A resolution that will bring the vending industry relief from recent changes in debit card swipe fees is imminent, the National Automatic Merchandising Association said.

On Oct. 1, a 21¢ cap on the fees banks can charge retailers every time customers swipe their debit cards went into effect as a result of the Durbin Amendment in 2010's Dodd-Frank Act. | SEE STORY

Visa and MasterCard have said they will charge the full 21¢ rate allowed for a single small-ticket debit card transaction, potentially tripling the cost of an average vending machine swipe.

NAMA said it has been working on a legislative solution to the issue with representatives in Illinois and Washington, DC, including the office of the House Small Business Committee. The vending association has also met with Visa and MasterCard, as well as with Bank of America Merchant Services, a partner in the NAMA Cashless Solution program.


Topic: Vending Features

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