Merchant Warehouse’s Henry Helgeson Appeared in Cards & Payments Magazine
In the February 2009 issue of Cards & Payments magazine, Merchant Warehouse’s Henry Helgeson, President & Co-CEO, offers his insight to about the ongoing debate between merchants and card issuers on PIN vs. signature-debit transaction fees.
The article, “Merchants Still Pushing PINs, But Card Issuers Are Not Signing Off”, points out the fact that merchants have been encouraging their customers to pay using PIN-debit since the cost of processing PIN-debit is typically lower than signature-based transactions. However, the card-issuing banks have been trying to make up for this by raising the fees for PIN-debit transactions.
Helgeson stated that PIN-debit transaction fees used to be simple, but are more and more becoming complex. He said that now EFT networks are more often moving toward a tiered structure for different types of merchants and transactions so much so that PIN-debit rates are now starting to equal those of signature-debit.
Comments
Got something to say?