QUICK LINKS: Videos  |  Micromarkets |

Redemption Report

|

Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Date Book

Search:      

Bookmark this site




Issue Date: Vol. 52, No. 2, February 2012, Posted On: 2/10/2012


Apriva Extends Discounted Cashless Visa Rate To Vending Operators


Emily Jed
Emily@vendingtimes.net
Apriva, Apriva Vending, cashless vending, wireless transactions, vending machine POS, vending machine, Apriva discounted rate program, Durbin Amendment, Visa, debit, prepaid cards, small-ticket cashless transactions

SCOTTSDALE, AZ -- Apriva, a provider of end-to-end wireless transactions, said it is now offering a discounted rate program to merchant acquirers and independent service organizations (ISOs) for Apriva Vend customers who deploy cashless vending technology. The rates, which are comparable to those before the enactment of the Durbin Amendment, are available immediately and apply to Visa-branded credit, debit and prepaid cards.

Apriva said the new discounted rates will allow vending operators to process the majority of their small-ticket cashless transactions much more cost-effectively.

On Oct. 1, Visa and MasterCard increased the debit card interchange fee cap to 22ยข per transaction, nearly tripling the cost of the average vending transaction, in response to limits imposed by the Durbin Amendment. | READ MORE

"While Apriva Vend continues to gain traction in the marketplace, there are still some operators who see transaction costs as an obstacle for implementing these solutions," explained Rinaldo Spinella, executive vice-president of Apriva. "We expect that the lower rate program should give operators a low-cost, low-risk incentive to integrate cashless into their operations and see first-hand how these offerings can improve their bottom line."

Apriva Vend incorporates system hardware and software, wireless connectivity, transaction and alarm reporting capabilities and integration with leading payment processors and financial institutions. It is delivered as a monthly service through merchant acquirers and ISOs.

In December, USA Technologies, a competing cashless vending provider, announced that it is no longer accepting MasterCard debit cards since higher interchange fees resulting from the passage of the Durbin Amendment have made the cost of processing the cards prohibitive for small-ticket transactions. USAT continues to accept Visa debit cards and all major credit cards -- including Mastercard -- at pre-Durbin Amendment rates. | READ MORE


Topic: Vending Features

Articles:
  • Fitbit Acquires Coin's Wearable Payment Assets; Popular Smart Watches Could Double As Mobile Wallets
  • Interstate United Corp. Founder Donn Chappellet Dies At 84
  • USI's Jim Chico, Gold Medalist Amanda Katchka And Celebrity Trainer Sarah Kusch Join Grow Healthy Vending Advisory Board
  • Apriva Completes Additional EMV Certifications For iOS And Android
  • NAMA Foundation Is Taking Applications For EDP Scholarships

Copyright © 2016 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570