ONLY Embassy Bankcard Can Guarantee You Receive the Benefit
With True Actual MC/Visa Interchange Plus Pricing
Last year, President Obama signed into law the Dodd-Frank Wall Street Reform & Consumer Protection Act. The Durbin Amendment section of the law, requires the Federal Reserve Board to implement certain regulations to anyone who issues debit cards to card holders, and payment card networks involved in the processing of debit card and pin-based interchange fees, mandating that they are “reasonable and proportional” to costs incurred by the issuer. The regulations are scheduled to be effective July 21, 2011, pending implementation.
The provision requires all financial institutions in excess of $1 billion dollars in assets to lower the cost of debit interchange fees to a proposed $0.12 cap. Although there are many provisions and exceptions in this Amendment, this may represent a reduction of 65-80% interchange cost.
There is no requirement that this reduction in fees be passed on to the business owners by their credit card processor. Other processors may not pass this savings on to merchants.
The intent of the Legislation is to provide a significant cost reduction to merchants. Barry Bass, Embassy Bankcard Solutions, Inc. (EBSI) is one of the few processors that have shared true pass thru interchange plus pricing to the finest merchants in the US. EBSI has offered preferred pricing years ahead of other processors. With EBSI the savings may be up to $3,000 per year, once this law is implemented.
If you do not currently enjoy the benefits of true actual interchange plus pricing, now is the time to take advantage of the most beneficial terms available to merchants.
Please call Barry Bass at EBSI NOW 877-982-0700 M-F, 9am to 5pm CST or email
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