article thumbnail

Merchants call on Fed to cut debit card swipe fees

Mass Relators

WASHINGTON – The Merchants Payments Coalition on Tuesday called for the Federal Reserve to revise debit card swipe fee rules to reflect lower bank costs. The swipe fee regulations were adopted a decade ago, and a new Fed report shows that banks’ average cost of processing the transactions has since fallen by half.

article thumbnail

Choosing a Distribution Model: Drop Shipping vs Traditional Inventory

Retail Bound

From the manufacturers to the distributors, to your retail store – there are many factors and unexpected costs to consider during the shipping process that can be often overlooked. Drop Shipping Model Drop shipping is where a retailer markets a product, collects payment from the customer, and then orders the item from a supplier/wholesaler.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A retail expert weighs in on Alibaba and JD.com’s approach to Singles Day

Inside Retail

Started by Alibaba in 2009 with just 27 brands, 11.11 The number of products, brands and merchants participating in 11.11 About 46,000 brands and merchants worldwide will promote overseas products on Alibaba. About 46,000 brands and merchants worldwide will promote overseas products on Alibaba. is now in its 15th year.

article thumbnail

NRF again asks Congress to address ‘swipe’ fees

Mass Relators

credit card market and currently restrict competition by allowing transactions made on cards issued under their brands to be processed only over their own networks. Merchants would then choose which of the two networks to use, prompting networks to compete over fees, security and service. billion charged in 2009.

article thumbnail

NFTs will Bridge the Gap Between the Real World and the Metaverse

Retail TouchPoints

The retail store, on the other hand, appeared further down the road in ancient Greece, where merchants sold goods in the Agora city center. Thousands of years later, in 2009, the market for digital assets arose. Consumers buy digital services from Netflix. If the car owner and mechanic share NFTs after servicing.

article thumbnail

Retailers Sue Fed Over Failure to Follow Congress’ Direction on Debit Card Swipe Fees

VMS

(PRESS RELEASE) WASHINGTON — Retailers have filed a lawsuit seeking to have the Federal Reserve lower its 10-year-old cap on “swipe” fees banks charge to process debit card transactions, saying the agency wrongly applied federal law and that merchants have paid billions of dollars more than intended by Congress while banks’ costs have fallen.

article thumbnail

Retailers sue Fed over debit card swipe fees

Mass Relators

WASHINGTON — Retailers filed a lawsuit on Thursday seeking to compel the Federal Reserve to lower its 10-year-old cap on the “swipe” fees banks charge to process debit card transactions. A survey by the Fed found bank costs allowed under Durbin averaged 8 cents per transaction as of 2009, the year before the law was passed.