Established Contributor
pipeguy
Posts: 553
Registered: ‎10-31-2011
Happy anniversary, swipe fee reform (Opinion Article)

‎10-01-2012 02:44 PM

First couple of lines:

 

October 1 marks the one-year anniversary of the implementation of debit card  swipe fee reform. It’s a reform that is working well and is a good start toward  bringing transparency and competition to debit and credit card swipe fees.

 

As a strong advocate of the free market system, I’m confident that I know a  free market when I see one. The credit and debit card swipe fee system is in no  sense a free market.

 

http://www.politico.com/news/stories/0912/81843.html?hp=l22

 

 

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Established Contributor
lithium78
Posts: 750
Registered: ‎07-30-2011
Re: Happy anniversary, swipe fee reform (Opinion Article)

‎10-02-2012 11:10 AM

I haven't noticed any reductions in prices from merchants after the debit card swipe fee reform bill passed.  I disagree with the article that merchants didn't just pocket the difference.  They definitely did.  If a merchant is only making 1-3% profit on their goods, they clearly don't possess good business skills and I have a really hard time feeling sympathetic.

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