PIN Debit Fees Go Up

Visa increased PIN debit fees by nearly 30 percent.

April 19, 2010

ARLINGTON, Va. - Beginning April 16, Interlink, the personal identification number (PIN) debit network run by Visa, increased by nearly 30 percent its fees for PIN debit transactions.

"It is unacceptable that Visa continues to increase fees at a time when our country needs to protect the hardworking Americans who provide jobs in our communities," said Leslie G. Sarasin, president and CEO at the Food Marketing Institute (FMI), in a press release. "Swipe fees are hurting small independent businesses and grocers the most because they pay some of the highest rates and have no choice about whether or not to accept debit cards to remain competitive."

"Much-needed swipe fee reforms will continue to be a top priority for FMI. We applaud Senate Majority Whip Richard Durbin (D-IL), Representatives Peter Welch (D-VT) and Bill Shuster (R-PA), and Chairman John Conyers (D-MI) for their leadership on this important industry issue and we encourage other lawmakers to support their efforts to bring meaningful relief to interchange swipe fees and unfair, intrusive card company practices that are squeezing small businesses and raising prices for all our customers," she said.

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