It helps when you are not part of a giant cartel.
ScanMyPhotos.com [30 Minute Photos Etc.] is doing the inverse and not replicating Visa and MasterCard’s business model. We use technology and innovations to constantly help provide more value to our customers around the world (rather than to member banks around the world) and we lower prices. Our pricing is so low that we receive calls every day asking how we can charge so much less then anyone else. It helps that we were the entrepreneurs who pioneered this new technology and helped commercialize Kodak document imaging scanners for photo industry applications and, just like the speed of transacting an electronic credit card payment , we too are super fast – 1,000 pictures digitally scanned in 10-minutes. See Kodak.com profile.
For regular updates on ScanMyPhotos.com and our daily tip and updates on super-fast photo scanning and digital imaging, read our other blog, Tales from the World of Photo Scanning, click here. On our most recent update, we even have very favorable comments on another large, non-financial services company.
It is interesting that since our litigation, the rate of record interchange fee hikes seem to have somewhat mellowed. While that is a good start, why exactly were they consistantly rising prior to our litigation and how was that justified as technology and efficiencies should have helped lower fees?