In Press Releases on November 18, 2011 at 12:54 pm

ROSEMONT, IL (Oct 25, 2011) – On October 1, the Fed implemented the Durbin Amendment (part of the Dodd-Frank Wall Street Reform Act) as a way to combat perceived price gouging on debit card interchange fees and save merchants a percentage of what they currently pay to banks.

Under the Durbin Amendment, the cap on fees assessed on debit card transaction has been cut to approximately 22 cents, but many merchants may not be seeing a price cut on processing.  Some merchant processing companies have discovered the loophole in the new amendment.

Merchant processors act as a required third party liaison between the merchant and the bank.  The processor charges the merchant on behalf of the bank, validates the funds, and sends the payment on to the merchant’s bank.  Nowhere in the new law does it dictate merchant processors must pass on the savings to the merchants.  Unfortunately for consumers, processors are now experiencing savings on behalf of the new legislation, instead of merchants, who were then expected to pass those savings on to them.  Now, debit cards are costing more to use and merchants have not been able to lower their prices.

For clients of TransNational, this will not be the case.  The company was founded on the notion of being a full disclosure provider of merchant card services that its clients can truly trust.  “The merchant-centric focus of TransNational has allowed us to provide best in class products and services at unbeatable rates.  We have been a pioneer in the revolution of ethics and excellence in the bankcard industry and will continue to serve our customers with fair and ethical practices, including relaying the Durbin savings on to the merchant.  Hopefully we will all be paying a little less in the future,” said Jae Haas, president of TransNational.

Business owners who are currently unsure whether their merchant card processor is working in their best interest are encouraged to call TransNational at (847) 655-1300 to set up a free consultation and comprehensive analysis of their current fees.


A Chicago Tribune 2010  Top 100 Chicago Workplace, TransNational is a Merchant Service Provider and Independent Sales Organization with corporate headquarters located in Rosemont, IL.  Founded in 1999 to be an ethical and full disclosure option in the Bankcard Industry, TransNational has enjoyed strong growth over the past decade.  Recognized by Rolling Meadows, its former corporate headquarters location, as the 2009 Business of the Year, TransNational also maintains an A+ rating with the Better Business Bureau, and is a four time BBB Torch Award nominee for Marketplace Ethics.  Merchant Service Providers provide credit card processing and financial services to businesses.  They are also known as Credit Card Acquirers.


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