Heartland Payment Systems has launched a
campaign to educate merchants about potential pitfalls of the
Durbin Amendments.
Payments processors Durbin Dollars Campaign
aims to make merchants aware of the rate changes for swipe fees and
the potential for cost savings as a result of the Durbin
Amendments, so merchants can avoid falling prey to profit-seeking
processors.
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Heartland Payment Systems launched a website
dedicated to its Durbin Dollar campaign and will commence offering
webinars and releasing educational videos. It will also partner
with the industry’s trade associations, it said.
Heartland Payment Systems also promised that
it will pass the savings that it will generate from the reduction
of debit card swipe fees on to merchants. The payments processor
estimates that merchants will, on average, save more than $1,000
within the first year of the Durbin Amendments.
Heartland Payment Systems president Bob
Baldwin said:
“It’s easy for a processor to say it
will pass the savings along to its merchants, but the reality is,
many won’t. As a result, unfortunately many merchants will miss out
on some or all of Durbin’s financial benefits, ultimately costing
them thousands of dollars.”
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