January 31, 2007
30 Minute Photos Etc. featured in Wednesday’s Wall Street Journal.
The month comes to a close with a feature profile on our company in the Wall Street Journal. We have long advocated that with technology should come lower prices. What use to cost consumers $5.00 is now 5-cents. 30 Minute Photos Etc. created this new photo imaging business model and has long been advocates for cutting edge initiatives; the most well known is as lead plaintiff in the multi-billion dollar merchant interchange antitrust litigation.
Click here to read the WSJ article, subscription required
January 27, 2007
Just moments ago, a retail customer at 30 Minute Photos Etc. presented us with their debit card; however, the electronic payment card terminal was unable to process their transaction.
This typically is caused due to a faulty magnetic strip on the card. What does this mean to retailers? The transaction had to be manually keyed into the terminal at the signature card, non-PIN rate. And there are more fees too. Because we were unable to swipe the card, a higher interchange fee was imposed. And then an even higher fee because the card terminal prompted us for the street and zip code cardholder’s information. If you do not enter that information, there is an even higher fee. Because the transaction with the customer was delayed, we did not want to further inconvenience the shopper by asking for the street and zip code information as well. Just another day in the interchange fee battle.
[Source: commentary, WayTooHigh.com]