Morticia
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The Dodd-Frank Wall Street Reform Act includes these provisions...note you now CAN charge less for those paying cash: (I am verifying that it does include lodging and not just 'retail')
There are two retail electronic payment acceptance reforms that take place immediately with the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act. One would provide retailers greater protections from card network fines in offering discounts or incentives for using cheaper forms of payments. The second would allow retailers to set minimums, not to exceed $10, for the use of a credit card. Swipe fee reforms in the Dodd-Frank Wall Street Reform and Consumer Protection Act limit the ability of the card networks to impose fines on retailers who choose to implement either of these practices. The effective date of these reforms is July 22, 2010.
Discounting/in-kind incentives: The first reform is that a card network shall not inhibit the ability of any person to provide a discount or in-kind incentive for payment by the use of cash, checks, debit cards or credit cards, provided that discounts for debit cards and credit cards do not differentiate on the basis of the issuer or the card network, and provided that the discount is offered to all buyers and disclosed clearly to the extent required by federal and applicable state law.
Minimums on credit cards: The second reform is that a card network shall not inhibit the ability of any person to set a minimum dollar value for acceptance of credit cards, provided that the minimum does not differentiate between issuers or card networks, and provided that the minimum does not exceed $10. Probably the most important news for us is that the debit card "interchange" fees paid by merchants to card issuers would be capped by the Federal Reserve at a "reasonable" level under an amendment that was included in the final bill.
There are two retail electronic payment acceptance reforms that take place immediately with the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act. One would provide retailers greater protections from card network fines in offering discounts or incentives for using cheaper forms of payments. The second would allow retailers to set minimums, not to exceed $10, for the use of a credit card. Swipe fee reforms in the Dodd-Frank Wall Street Reform and Consumer Protection Act limit the ability of the card networks to impose fines on retailers who choose to implement either of these practices. The effective date of these reforms is July 22, 2010.
Discounting/in-kind incentives: The first reform is that a card network shall not inhibit the ability of any person to provide a discount or in-kind incentive for payment by the use of cash, checks, debit cards or credit cards, provided that discounts for debit cards and credit cards do not differentiate on the basis of the issuer or the card network, and provided that the discount is offered to all buyers and disclosed clearly to the extent required by federal and applicable state law.
Minimums on credit cards: The second reform is that a card network shall not inhibit the ability of any person to set a minimum dollar value for acceptance of credit cards, provided that the minimum does not differentiate between issuers or card networks, and provided that the minimum does not exceed $10. Probably the most important news for us is that the debit card "interchange" fees paid by merchants to card issuers would be capped by the Federal Reserve at a "reasonable" level under an amendment that was included in the final bill.