The National Automatic Merchandising Association is asking its members to contact their representatives in Congress about the Durbin Amendment’s negative impact on vending.
Dan Matthews, the association’s interim chief executive, said the rule allows card companies and banks to charge up to 21 cents per transaction in addition to 0.05 percent of the purchase in order to mitigate fraud losses and an extra one cent for fraud protection, VendingTimes.com reports.
“Although this will be beneficial for large-ticket transactions, there is an adverse impact on the vending industry due to our typical small-ticket transactions,” Matthews said, VendingTimes.com reports. “This new cap could as much as triple the net swipe fee for small transactions.”
Matthews said the association has been lobbying members of the House Committee on Small Business and educating lawmakers about the unintended effects of the Durbin Amendment.
The NAMA argument is being reiterated on Capitol Hill by USA Technologies, one of the largest providers of cashless vending services.
USAT chief financial officer David DeMedio said the best long-term outcome would be for Congress to set an interchange rate specifically for vending.
"It's not something that we expect to see immediately, but it's something we hope will pop up as the number of transactions processed continues to climb," DeMedio said, according to VendingTimes.com.