Tuesday, October 18, 2011

Merchants across the U.S. get a financial boost with Heatland's Durbin Dollar savings


Heartland Payment Systems Releases First Actual State-Specific Durbin Impact Statistics

PRINCETON, N.J.--(BUSINESS WIRE)--From Maine to California, merchants are receiving hundreds of Durbin Dollars as a result of the Durbin Amendment. Heartland Payment Systems® (NYSE: HPY), one of the nation’s largest payments processors, has released the first state-specific data about the legislation’s actual effects on business owners in various states across the country.
“Merchants are wondering how the percentage of regulated versus non-regulated transactions in their states would impact their savings, and this data provides insight into exactly that”
The data collected between October 1, 2011 and October 16, 2011 across Heartland’s portfolio of 250,000 merchant locations shows for every $100,000 of Visa® and MasterCard® signature debit and credit card volume processed, the average savings per merchant across all states is $260.24. Washington, DC merchants received the highest average savings of $333.94, while Montana merchants saw the least average savings of $127.87. The savings variance from state to state is a result of the number of large versus small banks in the area, as well as the mix of credit and debit card volume processed.
These figures represent the averages of actual credit versus debit and regulated versus non-regulated debit transactions for Heartland merchants and do not include the impact of PIN debit volume.
“Merchants are wondering how the percentage of regulated versus non-regulated transactions in their states would impact their savings, and this data provides insight into exactly that,” said Bob Baldwin, Heartland’s president. “By providing business owners a frame of reference for how much money, on average, their peers across their state are saving from Durbin, they have an idea of what their own savings may be. Familiarizing themselves with this information is a preliminary step in ensuring they receive the full benefit of the reform.”
Average savings per merchant for all states can be found in the table below:
             
State   
Average Savings Per Merchant for
Every $100,000 of
Visa/MasterCard Signature Debit
and Credit Card Volume
Processed
   State   
Average Savings Per Merchant for
Every $100,000 of
Visa/MasterCard Signature Debit
and Credit Card Volume
Processed
Alabama   $260.92   Nebraska   $230.00
Alaska   $131.68   Nevada   $332.33
Arizona   $326.13   New Hampshire   $202.63
Arkansas   $223.11   New Jersey   $308.58
California   $299.60   New Mexico   $238.94
Colorado   $280.27   New York   $272.16
Connecticut   $261.05   North Carolina   $325.53
Delaware   $270.76   North Dakota   $134.88
Florida   $296.28   Ohio   $314.27
Georgia   $304.07   Oklahoma   $207.97
Hawaii   $197.47   Oregon   $267.47
Idaho   $245.66   Pennsylvania   $233.22
Illinois   $271.53   Rhode Island   $284.19
Indiana   $209.95   South Carolina   $250.47
Iowa   $153.94   South Dakota   $186.64
Kansas   $170.65   Tennessee   $260.38
Kentucky   $217.22   Texas   $310.43
Louisiana   $295.91   Utah   $198.20
Maine   $154.09   Vermont   $151.16
Maryland   $320.37   Virginia   $289.90
Massachusetts   $225.89   Washington   $244.83
Michigan   $232.20   Washington DC   $333.94
Minnesota   $212.24   West Virginia   $202.76
Mississippi   $195.71   Wisconsin   $158.54
Missouri   $222.06   Wyoming   $156.82
Montana   $127.87      
   
For more information on the Durbin Amendment, visit GetYourDurbinDollars.com.

Samsung, LG and ZTE discuss OS wars at The Open Mobile Summit

The Open Mobile Summit 2011

SAN FRANCISCO--(BUSINESS WIRE)--With Samsung’s Galaxy Nexus running ice cream sandwich anticipated this week hot on the heels of Apple’s iOS 5, expect the OS wars to be high on the agenda at the industry’s annual C-level conference, The Open Mobile Summit.
“Now in its 4th year, The Open Mobile Summit connects the heads of the mobile world with leaders from the Internet and media sectors”
On November 3rd, Samsung’s SVP Kevin Packingham joins Jin Sung Choi SVP LG Electronics, Jan Uddenfeldt CTO Sony Ericsson and Lixin Cheng CEO US of ZTE, for a far reaching discussion about the future of devices, moderated by Brian Modoff, a managing director at Deutsche Bank.
They’ll discuss where the future growth in smartphones will come from, the role of hardware in a software-centric world, and how they plan to differentiate. Not to mention the impact of patents on the competitive landscape, and whether Microsoft stands a chance of catching Apple and Android in the OS wars.
“Now in its 4th year, The Open Mobile Summit connects the heads of the mobile world with leaders from the Internet and media sectors” says Robin Batt, founder and executive producer. “I’m excited that so many of the world’s leading device manufacturers are participating this year – both on stage and in the audience”
Elsewhere at the conference industry leaders will explore the key questions surrounding 4G, mobile commerce, NFC and mobile payments, cloud, mobile patents, tablets, connected TV, publishing, HTML5, app discovery and monetization, mobile advertising and connected home.
Other speakers include David Small, CTO, Verizon Wireless, Sanjiv Ahuja CEO LightSquared, John Donahoe CEO eBay, Nicholas Negroponte Chairman One Laptop Per Child and Kevin Rose.
The 4th annual Open Mobile Summit takes place at the Marriot Marquis hotel in San Francisco., November 2-4. More than 800 senior strategists will attend. For more information, and to register, click here:
About Open Mobile Media Ltd
The Open Mobile Summit is produced by Open Mobile Media Ltd, an independent group founded in 2008 by communications industry consultant Robin Batt. The company produces The Open Mobile Summit in London and San Francisco, as well as Appcelerate in San Francisco.

Don't Like Debit Fees? Join a Credit Union Says PSCU


Nation’s Leading Credit Union Servicing Provider Urges Consumers to Take a Stand

Credit Unions Are the David in the Goliath Battle
SAINT PETERSBURG, Fla.--(BUSINESS WIRE)--The public outcry against the big banks adding fees for debit accounts and debit card transactions speaks volumes. Credit unions are the answer to consumers aggressively searching for less restrictions and fair fees.
“Credit unions are the way for consumers to take a stand. They are the natural answer.”
“Consumers shouldn’t be bullied into accepting charges for using their own money,” said Michael Kelly, president and CEO of PSCU Financial Services®. “Credit unions are the way for consumers to take a stand. They are the natural answer.”
In big banks, decisions are driven by executives trying to deliver for their shareholders. In the credit union model, members are the shareholders. As nonprofits, their members directly reap the benefits of a more efficient business approach. In many instances, that results in no fees for checking or debit accounts.
“As banks respond to regulations imposed upon them, many plan to recoup lost income by squeezing the consumer,” said Kelly. “Credit unions allow consumers to keep more of their own money, especially in these tough economic times. Consumers have the choice – pay the fees or move your business.”
PSCU Financial Services is the nation’s leading credit union service organization (CUSO) and serves more than 1,000 credit unions nationwide. The company provides transaction processing for millions of credit union cardholders.
America's credit unions were formed to serve a broad spectrum of people with banking services. Nearly 7,000 credit unions nationwide serve local communities or a defined constituency. They keep cost low and often pay higher interest for savings. Today, they have become even more relevant as they continually resist adding substantive fees for most regular banking services.
Kelly urges consumers to visit www.asmarterchoice.org or www.culookup.com to learn how to join a credit union in their community.
About PSCU Financial Services
Based in St. Petersburg, PSCU Financial Services is the nation’s leading largest credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. As a nonprofit cooperative, the company is owned by member credit unions representing 16 million credit, debit, prepaid, online bill payment and electronic banking accounts. Its Contact Centers handle more than 18 million inquiries a year.
For more information, visit PSCU Financial Services’ website at www.pscufs.com.

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