Catching A Break ??

According to a Washington Post article this morning, the Federal Reserve has proposed LOWERING the interchange fee to a capped 12 cents for Debit Card transactions for large bank issuers (banks under $10 billion excluded). The average retailer paid a fee for this type of transaction last year of 44 cents. Again, this is for only debit cards–no credit cards–but a decrease is a decrease. Cross ur fingers, cause it’s not very often that reductions in costs are even possible. Not all of you would benefit equally in this possible reduction (delcos as compared with table service restaurants), but when the bottom line can be enhanced, I’m all for it.

Merry Christmas and Happy New Year!!

44 cents!..Holly crap!..In Canada I think the typical rate is 12 cents or so…But then all the major banks own a co-operative that seems to be very efficient…Also, Canada has less of a problem with fraud…