The Real Flat Rate Credit Card Processing

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Merchant News December 2011

The Durbin Amendment
As part of the Dodd Frank Reform passed by senate in 2010, The Durbin Amendment was put in place for Merchants to enjoy a discount on processing Debit Cards .  Thus Regulating the Issuing Banks (Beneficiaries of Interchange) by capping Check Card-Debit Card Transactions at at $0.21cents and .05%.   The initial assumptions were that merchants will save big dollars from the decrease in fees given a scenario of an average ticket higher than $20. However, issuing banks have increased interchange on nearly every other interchange level.

For example Small Ticket Merchants (Under $20) who previously enjoyed discounted rates already lower than the 22 Cent cap assessed by the Durbin Amendment  are now being penalized having to pay the higher cap in the banks efforts to regain loss revenue from the amendment.  With all this said the changes to current interchange could end up benefiting merchants if the discounts are passed along properly or this could also open doors for Processors to further Mislead merchants on the different levels of interchange.

Flat Rate Processing  was created to offer  understanding and peace of mind on the cost of merchant processing.  Following the implementation of the Durbin Amendment, Banks and Processors have further complicated the total effect of the new law.  Yet,  Flat Rate Credit Card Processing  has proven its purpose by properly calculating savings for merchants and are able to offer an apparent savings or in other cases minimal losses.

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