Ray Graber is Keynote Speaker at Ijona skills. He has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research at Tower Group; best practices Internet policies at Fleet Boston Financial; wire transfer operations and product launches at Citibank and Bank Boston; and treasury operations for a $325 million public company. Mr. Graber was an adjunct professor at the Carroll Graduate School of Management at Boston College where he taught E-Banking, MBA Leadership, Corporate Finance, and Financial Management of Commercial Bank........Read More
This training on credit card surcharge compliance issues will discuss how the recent changes in the law will affect end-user organizations. It will also provide attendees with the tools necessary to review and deal with any potential surcharge/checkout fee situations.Credit card surcharging is prohibited in ten (10) states while another dozen states are considering legislation Surcharging had been historically prohibited in the U.S. per the networks' merchant rules, as well as prohibited by law in 10 states. Any state law will continue to "trump" networks' merchant rules. The recent changes in surcharging law could not only affect your merchant processing transactions but also your credit card usage.
Why should you attend?
Passing on interchange fees has always been against card network regulations and companies have found unique ways to get around the regulations or simply did not comply. An anti-trust lawsuit was filed in 2005 and in July 13, 2012 the suit was finally settled.
The worst thing end-user organizations can do is to have an uninformed reaction to surcharging. It's important to first look at the big picture as end-users should also educate suppliers about the economics of card acceptance, pointing out the savings possible and other benefits. When suppliers are reaping the rewards, they should not be adding a surcharge. They might overlook the benefits of card acceptance, as well as the cost of other payment methods like checks and cash.
This training on credit card interchange fees rules will clearly explain the changes in the rules, who benefits from the changes, and how it will affect the retailers and customers.
Areas Covered in the Session:
Who can Benefit: