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Retailers press Fed to slash debit fees
Posted on May 3, 2016 (Category: Debit / Credit Cards)

Retailers are hurting on the debit card fees which they claimed as “substantially higher then issuers’ incremental costs.” This was the reason on their appeal to the Federal Reserve to lower the fees for debit card transactions.

The Federal Reserve placed a first-ever cap on how much banks can charge for debit card transactions in 2011. The rates issued by the Fed slashed the swipe fees by about 50 percent, to 21 cents plus 0.05 percent of the transaction for fraud recovery and another 1 cent for fraud prevention. That works out to about 24 cents on the typical $38 purchase, a savings the CBA argues should have been passed on to the consumer. 

Prior to the Durbin amendment, the fees averaged 45 cents per debit transaction.

The Fed is now gathering data on debit fees before they could decide whether or not they will adjust the fees. (Payments Journal) 

1,600,000 Merchants ?

Many POS Terminals Thailand is an amazing country with huge potential. Today the must successful bank have for the last few years triple their number of POS terminals, so called card acceptance terminals and now reached more than 120,000 locations.

Twice the size Within the next year and up to end of 2015 likely the number of locations has increased to 250,000. Today 2014 the number of locations represents only 7.5% of total potential merchants or of we assume that 20% are so called bankable merchants in total equal to 320k say 350,000 bankable prime locations, the numbers today only represents 35%.

e-Money in Thailand

Bang of Thailand informed the market players on August 14 how to handle and make rules for e-money A few interesting things, worth to be mentioned is:
Bank of Thailand give guidelines that e-money issuers can put an expiration date. That's is very surprising due to the fact that there is an Consumer Act saying the opposite, issuer of electronic values can not put an expiration date.
If you have a card or an account with e-money and you go to an ATM machine to withdraw TB 100.00 but your balance is only TB 80.00, the provider, the issuer is not allowed to give a credit. e-money must be bought and then later used or withdrawn. Provider must allow you to withdraw the value.
So in reality today, August 2014 when mobile phone operators in Thailand, give you an AUTO CREDIT when your account run low, that is not allowed
There is a limit that an e-money card or voucher only can have TB 50,000 but no limitation on how many you can buy.

The way you find ViA

ViA PAY the way you find ViA Card shop

The SPACE in the shop has a value, you agree? So it is also important to see how much and where in the shop you have the best earnings.

ViA eBM devices is a better way on how to conduct proper business among small medium merchants. The shop-in-the-block, the Street sales-person, the home delivery guy or girl actually any one who meet people and conduct some type of business.