365 Retail Markets Partners With Heartland To Return MasterCard Debit As Payment Option

TROY, MI -- 365 Retail Markets said it has aligned its technology with Heartland Payments Systems' ability to accept MasterCard debit for low-ticket, unattended payments.

On Oct. 1, 2011, Visa and MasterCard increased the debit card interchange fee cap to 22¢ a transaction, resulting from the passage of the Durbin Amendment as part of the Dodd-Frank financial reform legislation. This made the cost of processing the cards prohibitive for small-ticket transactions. | READ MORE

Three Six Five said MasterCard debit was previously unavailable at its self-checkout kiosks due to "contractual or financial limits," but is now immediately available on all on all of its equipment that uses 365 Payments.

For operators who do not use 365 Payments, the company said account executives will be in touch to discuss necessary steps to be able to accept MasterCard debit.

"This technological advance will have a huge positive effect on the profits of micromarket and vending operators across the United States," said 365 Markets chief executive Joe Hessling. "Our thanks go out to those who overcame the obstacles and pushed behind the scenes to make this happen."

Princeton, NJ-based Heartland Payment Systems is one of the nation's largest payments processors.