Tuesday, November 22nd, 2011 | no comments | B.J. Kharrazi
Recently we added the new ShopKeep iPad-powered POS and Cash Register system to our service wares. Is it a hot commodity? Read more about it on our Powered By ShopKeep page.
Report from WCBS New York –
One Brooklyn wine shop and grocery store is uncorking the wave of the future.
“We never anticipated that we would be in tech,” says Amy Bennett, who runs the Greene Grape in Fort Greene.
But that was before things got frustrating.
Tuesday, November 1st, 2011 | no comments | B.J. Kharrazi
When you make a credit card purchase for $100, it costs the merchant about $1.00 in processing fees. It’s unclear why card issuers think they deserve a 2% cut.
Most of the attention in recent months has been focused on fees for processing debit cards. However, in early July, the Federal Reserve limitedd the base charge that can be imposed to 21 cents per transaction, on average — well below the current average of 44 cents.
The processing fees in question are known as interchange fees, and they’re a major source of revenue for card companies like VISA and MasterCard. Merchants and consumer groups alike have long challenged the fees for being too high and out of proportion with the actual cost of processing transactions.
Banks contend that they need such fees to maintain the integrity of their computer networks as well as to fund anti-fraud efforts.
