Business Owners – Are You Getting Your "Durbin Dollars"
Recent federal regulations have rolled back credit card processing rates by as much as 1%, are you getting your fair share?
Recent federal regulations have rolled back credit card processing rates by as much as 1%, are you getting your fair share?
Credit card processing rates have recently been reduced nationally by an astonishing $6.6 Billion due to the recently federally enacted Durbin amendment. Where did that money go? Well, it's supposed to be returned to you, the merchant who pays the credit card processing fees in the first place. But that&s not always the case.
Unfortunately, many merchant banks and processors are pocketing this windfall and not passing it on to deserving merchants. This was not the intent of the government when it instituted the regulation in October 2011.
Are You Getting Your Durbin Dollars?
75% of business owners are not receiving these rebates -- are you one of them?
To find out you should have your rates reviewed by a qualified honest agent…it pays to know.
Durbin Dollars result from legislation passed by the federal government which rolled back debit card Interchange rates by as much as 1%. It results from the Durbin Amendment to the Dodd–Frank Wall Street Reform and Consumer Protection Act and went into effect beginning October 2011.
About the Author
Al Valente is a business consultant servicing New England and helps customers to make smart investment decisions in selecting their payments processing systems. He is an independent agent for NCR/JetPay and Upserve.
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