Nathan Joel’s Post

Great article here where Glenn Grossman articulates the realities of interchange regulation! #CCCA #Durbin #Interchange #Makeitmakesense

As inflation rates on credit card transactions soar alongside increasing credit card usage, merchants’ margins are becoming increasingly challenged by credit card fees.   In a recent Marketplace interview, Sabri Ben-Achour spoke with retailers to understand how credit card fees are impacting their bottom line. In 2022, merchants paid $126 billion in credit card fees – an increase of 20% from the year before, and more than double from 2013. Whether for convenience or rewards, customers are swiping their cards more frequently, leaving merchants to pay costly fees to credit card companies, processors or banks. https://lnkd.in/gckFSMag   InterPayments’ fully customizable, compliant surcharging technology helps businesses overcome the squeeze of swipe fees. We enable merchants to recover and optimize their processing fees while ensuring customers can continue to choose their preferred payment method—without added cost on you. Contact us today to learn how we can help recover revenue lost to processing fees: https://lnkd.in/eNvW_MyM #surchargingtechnology #creditcardusage #creditcardfees #swipefees  

If your preferred grocery store was to obtain lower interchange fees, would you see a difference? 💲 Consider that your basket of goods with varying prices shows up on your receipt. Each of these is a line-item and this merchant/grocery store has carefully considered the price of every item in the store. Now if they obtained a reduction of 20 basis points (that is a 20th of one percent) would they pass those savings on to you? Research has shown it will not happen (see the Richmond Federal Reserve for more detail). The reality is you will never notice the savings and merchants would just rather save the money. While there is nothing wrong with a business seeking to save money, but bills such as the Credit Card Competition Act 💳 and the Durbin Amendment claim to save all of us (consumers) money. Check out this article in Digital Transactions where I discuss this topic. https://lnkd.in/e9TzZhzv Ron Shevlin, Tony DeSanctis, America's Credit Unions, Mary Wisniewski. Cornerstone Advisors #creditcards, #regulation

In my recent column about credit card warnings, I explained the dangers of zero-interest cards, particularly those offered by retail stores. If you fail to pay the FULL balance off within the specified zero-rate time period, you can be charged a 30%+ rate for the entire amount, retroactively from the original date of purchase! Even

In my recent column about credit card warnings, I explained the dangers of zero-interest cards, particularly those offered by retail stores. If you fail to pay the FULL balance off within the specified zero-rate time period, you can be charged a 30%+ rate for the entire amount, retroactively from the original date of purchase! Even

Congress is considering new payment options for grocery stores and gas stations. While this could be good news for retailers, Big Banks are warning that consumers may not see the benefits. In fact, credit card rewards could be at risk. Stay informed on the latest developments in #payments, #retailing, #gasstations, and #grocerystores. Check out the details here: https://flip.it/U9MrLL

You likely know by now that we’re upgrading to Mastercard® – a change that comes with great perks, including a faster way to pay. Changes like this can be confusing, so here’s a quick round-up of some common questions. Q: Will I have to change my automatic payments? A: Some of your auto payments should automatically transfer to your new Mastercard. Once you get your card, we recommend checking your automatic payment information to be safe. Q: Will it work at Costco? A: Yes! Simply tap or insert your debit card and enter your PIN number at the prompt. Credit and debit cards will work online at Costco.com. In person, Costco only accepts debit with PIN.

87% of buyers never claim cash back. Here’s how it boosts profits over discounts. “Discounts are killing our margins.” Yet another frustrated eCom founder during a Klaviyo audit this week. But there’s a smarter way—cash back incentives. Why it works: ► 87% of buyers never claim their cash back, meaning they end up paying full price or converting it into gift card credits. ► Win-win: customers feel like they’re getting a deal, and you keep your profits intact. Duradry masters this in their post-purchase flow, turning discounts into repeat sales. What’s your go-to strategy for cutting discount dependency?

Credit card fees are often the second highest OPEX cost after labor. Margin erosion is accelerating from significant adoption of digital payments and increasing use of high rewards cards. Will the industry need to provide ways to optimize consumer cards (similar to commercial cards) to avoid regulatory oversight? https://lnkd.in/eBecEueq

Ca-ching! Ah, the sound of your grocery store making another sale. However — managing payments, payment processors, and pesky fees can be intimidating. Our complete guide to payment processing includes: Payment processing basics The fees associated with payment processing Types of payments to accept in your grocery store How to find the right payment processing solution Dive in now: https://hubs.la/Q02Fg3h_0