By The Business Solutions editorial staff
In the news banks name a credit card security company in a class action lawsuit over last year’s high-profile credit card data breach. Also, analyst are asking whether the fee cap battle will continue after the ruling to uphold the 21-cent swipe fee.
Trustwave Holdings Named In Class-Action Suit Along With Target
Trustwave Holdings, a Chicago-based credit card security company, is named in a class-action suit along with Target Corp. related to last year’s data breach that resulted in the theft of customer payment card data. Plaintiffs Trustmark National Bank and Green Bank, N.A. allege that Trustwave failed to find deficiencies within Target’s systems.
Appeals Court Upholds 21-Cent Debit Swipe Fee Ruling
The U.S. Court of Appeals up held the ruling permitting a 21-cent limit on debit swipe fees. The National Restaurant Association (NRA) was among those that opposed this amount. In a statement issued following the ruling, the NRA said: “We are currently reviewing the opinion and exploring further legal options. The U.S. District Court’s original ruling appropriately took into account the concerns raised by small ticket merchants. Allowing higher fees on small-ticket bills was not the intent of Congress and an unintended consequence of the Federal Reserve’s flawed implementation of the law. We hope the Federal Reserve will exercise its existing authority to reconcile this failure and ensure the major card brands cannot continue to impose unreasonable debit card fees on the restaurant and foodservice industry to the detriment of thousands of businesses and ultimately our customers.”
An article in ATM Marketplace asks, “Will the fee cap fight go one more round? “
Tips Offered For Effective Mobile Marketing
Business2Community offers insight on “How to Use Mobile Marketing to Benefit your Small Business,” demonstrating the essentiality of mobile-friendly platforms. Have your customers consider developing a mobile app, adding a rewards program. Many companies implement direct messaging into their apps, enabling push notifications and user-specific messages — geofencing lets the app send messages when the customer is near the business.
For more news and insights, visit BSMinfo’s Retail IT Tech Center.