Credit cards

The latest American Express program designed to support small businesses offers merchants the opportunity to earn a $100 American Express® Reward Card to help defray the cost of purchasing EMV-enabled card readers for their point-of-sale systems.

The U.S. District Court in the Eastern District of New York has ruled in favor of a U.S. Department of Justice lawsuit brought against American Express Company and American Express Travel Related Services Company for violating antitrust laws by imposing “anti-steering” rules on merchants.

In preparation for the credit card industry’s transition to EMV chip cards by October 2015, Bancard Systems, ABA’s affiliated credit card processing company, is providing its small business clients with a detailed flier looking at how merchants should plan for the switch.

Here, six point-of-sale (POS) vendors provide an update on their work to help booksellers transition to EMV chip card technology by fall 2015.

Booksellers looking for a better understanding of their current point-of-sale system and those looking for a new one are encouraged to attend the Winter Institute’s “Roundtable Discussion on POS Systems” and to visit with POS vendors participating in the Consultation Station.

Retailers that previously opted out of the Visa/MasterCard credit card swipe fee class action settlement have until this Friday, December 19, to rejoin the cash settlement class.

On December 4, bookstore members should have received an e-mail from ABA with updated information regarding the recent notice sent to them by the Visa/MasterCard interchange class settlement administrator.

On Thursday, December 4, the American Booksellers Association e-mailed association member bookstores with updated information regarding a recent notice from the Visa/MasterCard interchange class settlement administrator.

ABA expects to have a recommendation next week regarding the recent notice sent to bookstores that opted out of the Visa and MasterCard credit card swipe fee settlement in 2013.

Bookstores that opted out of the Visa and MasterCard credit card swipe fee cash settlement back in 2013 may have received, or could soon receive, a notice offering them the chance to rejoin the cash settlement class.

The credit card industry is in the midst of transitioning to a chip card technology system in order to combat rising reports of fraud. By October 2015, retailers must be equipped with new card terminals at their points of sale or potentially be held liable for fraudulent purchases.

On Monday, June 16, the National Retail Federation and the Retail Industry Leaders Association urged an appeals court to overturn a federal judge’s approval of a controversial lawsuit settlement over Visa and MasterCard’s credit card swipe fees.

In a victory for the banking industry, a federal appeals court has overturned a July 2013 ruling by a U.S. district court that ordered the Federal Reserve to rewrite rules to lower the cap on debit card swipe fees.

On Friday, December 13, a U.S. district court judge gave final approval to the $7.25 billion swipe fee settlement reached last year in a class-action lawsuit brought against Visa, MasterCard, and a group of card-issuing banks.

A U.S. district court judge is expected to issue a ruling before mid-January on the proposed swipe fee settlement reached last year in a class-action lawsuit that is now in its eighth year.