Scottsdale, AZ October 5, 2011—Rinaldo Spinella, executive vice president for unattended payments at Apriva, the leading provider of end-to-end wireless transactions and secure information solutions, today released the following statement on the industry’s reaction to the recent changes in Interchange rates and fees that have been set into motion by the implementation of the Durbin Amendment.
“The implementation of new debit card transaction fees by various payments companies as a result of the Durbin Amendment has caused an understandable amount of anxiety and confusion among vending operators, who by-and-large, serve a market which is dominated by consumers who choose to pay by debit card.
Apriva has a history of leading our customers through disruptive market changes, and this is no different today. In the wake of the Durbin Amendment, we are working with a number of organizations—including card brands and financial institutions—to minimize the financial repercussions of the Durbin Amendment.
Before this legislation was passed by Congress, Apriva recognized that card associations needed to accommodate the small-ticket purchases typical in vending. Consequently, in 2010, Apriva and Visa partnered together to introduce a Visa Incentive Program for unattended vending. Under this program, operators are given an incentive to add cashless payment to their vending machines. Those who have elected to participate in this program are sheltered from the recent price changes and actually enjoy a discount over Interchange fees that were adopted pre-Durbin. These program participants enjoy a substantial competitive edge in the market. We are happy to report that Apriva Vend™ customers who participate in the Visa Incentive Program continue to enjoy the same competitive Interchange rates through at least the end of 2011.
Apriva is listening to the market and is actively engaged in advocating with Visa on behalf of its customers. We are working towards a program that provides a stable environment for long-term, sustainable growth of cashless vending. It is our hope and expectation that the same progressive leadership shown in 2010, leadership that has helped to open the door to cashless for many vending operators, will allow that door to remain open and support the continued growth of cashless in this post-Durbin environment.
Beyond our efforts with card brands and financial institutions, Apriva has developed technology which enables operators to manage their financial risk by giving them control over the locations at which they will process debit cards. Vending operators know their customers best and need the flexibility and control that our technology provides. We are certain that giving vending operators the power of choice, based on their business needs, will resonate within the industry.
Apriva is the leader in wireless payments and is an advocate for vending operators of all types. We remain committed to serving the interests of our customers, and will continue to work relentlessly to ensure that vending operators have every available opportunity to leverage the profound business benefits associated with cashless vending.”
The Visa Incentive Program is available through Apriva’s network of merchant acquirers, and is fully integrated with the Apriva Vend service paired with the MEI 4-in-1 bezel which supports contactless card acceptance. An end-to-end cashless vending solution, Apriva Vend enables operators to accept card-based payments at vending machines. Apriva Vend incorporates all aspects of a cashless vending solution, including hardware, software, payment processing, cellular carrier services, and back-end reporting tools. Apriva Vend provides vending operators expedited access to their cashless funds, 24/7 customer support, and leading-edge technology that meets the most stringent security and privacy mandates.
Founded in 1999, Apriva is the leading provider of end-to-end wireless transactions and secure information messaging solutions that meet the exacting security and reliability requirements of financial services providers, government entities, and public service sectors. Through its two operating groups, Apriva Point of Sale (POS) and Apriva Information Security Systems (ISS), the company offers customers fully-managed, end-to-end, security solutions that incorporate hardware, software, network infrastructure and management tools. For more information, visit www.apriva.com.
Parallel Communications Group