You’ve probably heard about the Durbin Interchange Amendment.
On issue of particular interest to small businesses is that credit card issuers currently don’t allow merchants to offer discounts to customers based on the payment method. For instance, if you take American Express, your agreement forbids you from offering discounts for other payment methods (e.g. Checks or Cash).
The latest version of the bill doesn’t allow us to offer discounts BETWEEN credit or debit cards, but does allow us to offer discounts for different payment methods as long as we offer the same thing to all customers.
Still, not bad. Your thoughts?
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