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Retailers appeal credit card swipe fee settlement

BY Marianne Wilson

Washington — The National Retail Federation Thursday formally filed an appeal of a controversial antitrust lawsuit settlement covering credit card swipe fees, asking the 2nd U.S. Circuit Court of Appeals to overturn a lower court’s ruling.

“NRF is filing the appeal to overturn the flawed credit card swipe fee settlement," said NRF senior VP and general counsel Mallory Duncan in a statement after the notice to appeal was filed with the court. "The settlement does nothing to reform the price-fixing payments system that has let credit card swipe fees skyrocket over the past decade and nothing to keep them from continuing to soar in the future. Instead of lowering fees, the card industry’s settlement proposes that merchants pass them along to consumers in the form of surcharges. That is absolutely the opposite of what retailers sought, and major retailers have soundly rejected surcharging.

“There has been no agreement to this settlement by the retail industry. Instead, there’s a settlement with nine individual retailers whose views are not representative of the collective industry. A majority of the original plaintiffs in the case repudiated the settlement as soon as they saw its terms, the nation’s largest retailers have spoken out against it, and close to 8,000 retailers and merchants have formally rejected the proposal. This is an abuse of the class action system and should never have been approved.

“The only people pleased with this settlement are Visa and MasterCard, because it means they can continue collecting tens of billions of dollars in hidden fees, the class action lawyers who stand to collect half a billion dollars in fees without fixing the problem, and a lower court, which has cleared a time-consuming case off its docket, but has done a serious disservice to merchants and the public in the process.”

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C.Michaels says:
May-09-2014 04:56 am

There are those who became disappointed by PayPal as an online payments choice ever since it was purchased by eBay. Many have felt the sting of lost funds, account freezes and other service nightmares that some may say rest just this side of downright fraud. Then there are the fees. For those who desire alternatives, there's Dwolla, an online payments site that claims it does a better job than the competition, for less money. Use a short term loan to help pay your next PayPal payment. I hope it's a great help to all of us.

C.Michaels says:
May-09-2014 04:56 am

There are those who became disappointed by PayPal as an online payments choice ever since it was purchased by eBay. Many have felt the sting of lost funds, account freezes and other service nightmares that some may say rest just this side of downright fraud. Then there are the fees. For those who desire alternatives, there's Dwolla, an online payments site that claims it does a better job than the competition, for less money. Use a short term loan to help pay your next PayPal payment. I hope it's a great help to all of us.

A.Howard says:
Feb-12-2014 08:26 am

It used to be that everyone paid with cash, or possibly a check, for everything, everywhere. However, we now live in the credit and debit card era and are heading for mobile payments, but one should constantly try to tip waiters with cash wherever possible. Article resource: army payday loans.

A.Howard says:
Feb-12-2014 08:26 am

It used to be that everyone paid with cash, or possibly a check, for everything, everywhere. However, we now live in the credit and debit card era and are heading for mobile payments, but one should constantly try to tip waiters with cash wherever possible. Article resource: army payday loans.

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Aldi goes all natural with new line

BY CSA STAFF

Aldi already has a reputation for low prices and now it wants to shore up shoppers’ perception of quality with a new brand called SimplyNature.

The operator of 1,300 no frills food stores said the chainwide introduction of SimplyNature is a reflection of its commitment to emphasize impressively high quality products at impossibly low prices. SimplyNature features simple foods such as cereal, honey, fruit bars, apple juice, pasta sauce and snacks that are made with only all-natural or organic ingredients.

"At Aldi, we know that finding great-tasting, wholesome foods is important to our customers. With the new SimplyNature line of all-natural or organic products, customers can get high-quality, nutritious options at an affordable price," said Chuck Youngstrom, Aldi’s president. "We’re always striving to offer healthy options at prices that make it possible to maintain a healthy lifestyle – and that’s exactly what the SimplyNature brand offers."

Beyond SimplyNature, Aldi said it continues to increase fresh produce offerings and currently carries nearly 70 varieties of fresh fruits and vegetables, including several new organic produce items such as bananas, apples, tomatoes, baby carrots and salad mixes.

The increased fresh and natural emphasis comes as Aldi is looking to accelerate its pace of expansion after averaging about 80 new stores each of the past few years. The company’s smaller format stores offer about 1,300 of the most commonly purchased grocery items under Aldi’s various brand names and serve approximately 25 million customers each month.

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Report – Coupons.com to acquire loyalty provider Yub, considers IPO

BY Dan Berthiaume

Mountain View, Calif. — Coupons.com is reportedly going to acquire Yub, a provider of mobile rewards and offers that customers redeem at brick-and-mortar stores. According to the Wall Street Journal, Coupons.com will pay $30 million for Yub, and is also considering an IPO.

The Wall Street Journal cites a merger document it reviewed as the source of the purchase amount. Investors in Yub include Visa. Coupons.com also has reportedly retained Goldman-Sachs to help launch an IPO that could occur in 2014. Coupons.com was valued at $1 billion during a 2011 venture capital funding round. Neither Coupons.com nor Yub commented in the article.

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