Credit and Debit Swipe Fees: Combating Invisible Costs
Credit and debit card swipe fees are an enormous (and growing) cost for parking facility operators and their customers. Swipe fees are hidden and fees are largely unpredictable for those that accept credit and debit cards, and business managers' abilities to negotiate rates or terms of card acceptance are limited, resulting in excessive per-transaction fee increases over the past decade.
To help combat this, IPI recently joined the Merchants Payments Coalition (MPC), a varied group of businesses fighting against unfair credit and debit card swipe fees to foster a more competitive and transparent card system.
MPC views the passage of debit card fee reformsoften referred to as the Durbin amendmentthat were included in the Dodd-Frank Wall Street Reform and Consumer Protection Act as a major step forward to creating a more fair and reasonable payments marketplace despite poor implementation by the Federal Reserve in their final rulemaking that provided the major card brands latitude to increase rates on small ticket debit transactions.
MPC experts will host an IPI webinar on swipe fees, what they mean for parking operators, and the best ways to combat unfair practices. This webinar will cover:
Background on the MPC and on swipe fee issues for merchants and customers.
A legislative, regulatory, and legal overview.
Small-ticket debit issues: how they affect the parking industry & what's being done to address them.
The next steps: how parking professionals can get involved and make the most of their card acceptance programs.
Liz Garner serves as Director of Commerce and Entrepreneurship at the National Restaurant Association where she represents the industry on issues impacting profitability, including payments, data security, emerging technologies, tax, finance, travel and tourism, and other issues. She is a key player in the Merchants Payments Coalition, Coalition of Associations for Retail Data Security, the Depreciation Fairness Coalition, the Family Business Estate Tax Coalition, and Travel and Tourism Coalition.
Liz has an undergraduate degree from Vanderbilt University and a Masters in Government from Johns Hopkins University.
Douglas Kantor is a partner in the Washington office of Steptoe & Johnson LLP, where he is a member of the Government Affairs & Public Policy practice, focusing on government relations. Mr. Kantor provides governmental advocacy, strategic advice, and legal counseling services to a range of clients before the congressional and Executive branch agencies. He advocates for clients in areas including financial services, technology, energy, tax issues, the judiciary, and appropriations. He also provides legal representation for clients facing investigations by state attorneys general and the Congress.
Doug has an undergraduate degree from the University of Virginia and a Juris Doctorate from Yale Law School.