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Table of Contents

Lead Story

Long live the check

Patti Murphy
ProScribes Inc.

News

Industry Update

Ruling a window to hot legal topic

NFC not paramount in expert testimony

NRF will try to block settlement

PCI SSC offers IT accreditation program

Features

GS Advisory Board:
Views on Visa's FANF

Research Rundown

Meet The Expert: Rick Slifka

ISOMetrics:
Consumer payment habits

Why advertise?

Selling Prepaid

Prepaid in brief

Is direct deposit the secret to prepaid's future?

Players profit from open currency

Views

Check fraud is the problem, RDC is a solution

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Start with a strong foundation

Jeff Fortney
Clearent LLC

Stage set for expansion of mobile payments

Henry Helgeson
Merchant Warehouse

The mobile app's role in marketing and sales

Ron Tunick ('Coach')
Nations Transaction Services

New era, same old game for MLSs

Dale S. Laszig
Castles Technology Co. Ltd.

Prepare for the mPOS wave

Rick Berry
ABC Mobile Pay Inc.

Health-care fraud: Back with a vengeance

Nicholas Cucci
Network Merchants Inc.

Company Profile

Central Payment Co. LLC

New Products

A POS for Main Street merchants

POS-itivity!
CardWare International

Bringing social order to business

The Social Merchant
The Social Merchant

Inspiration

A lesson from the Greeks

Departments

Forum

2012 events Calendar

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

September 24, 2012  •  Issue 12:09:02

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NRF will try to block settlement

The National Retail Federation was authorized by its Board of Directors Sept. 11, 2012, to go to court to block the proposed $7.25 billion settlement of the antitrust lawsuit brought over card company interchange fees by national retailers.

The NRF is not a party to said lawsuit brought against MasterCard Worldwide and Visa Inc. And U.S. District Court Judge John Gleeson has not outlined how outside groups will be allowed to intervene or if the case qualifies as a class action. Matthew Shay, NRF President and Chief Executive Officer, said the settlement not only doesn't curb the anti-competitive behavior of Visa and MasterCard, it also removes a legal remedy available to retailers now - and in the future - when they are faced with increases in interchange fees.

"The proposal is a lose-lose-lose for merchants, consumers and competition," Shay said. "We represent the nation's retailers, and that means not just today's retailers but tomorrow's as well. It is our duty to foster an environment that is supportive of young, new entrepreneurs who will create the Wal-Marts and Amazons and Main Street shops of the future. We can't stand by and allow their rights to be stripped away before they've even had a chance to start their businesses."

Shay pointed out that interchange fees are particularly burdensome for online retailers who are forced to pay higher card-not-present interchange rates.

Additional allegations the NRF voiced include:

Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services