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Electronic Payments Coalition slams 7-Eleven over interchange petition

01 October 2009  |  1023 views  |  0 Source: Electronic Payments Coalition

In response to the press conference held by 7-Eleven and the National Association of Convenience Stores regarding their petition, the Electronic Payments Coalition issued the following statement:

"It is the height of irony that a convenience store, which regularly marks up their products by as much as 500 percent for 'convenience sake,' doesn't want to pay for the convenience of accepting cards. They want their customers to pay for that convenience, too. Enough is enough.

"This petition is not what it appears to be. 7-Eleven used deceptive language to trick their customers into signing something they thought would save them money. How many would have signed a petition that said, 'sign here if you want to pay more to use your debit or credit card, so we can profit?'

"Merchants understand that when they accept debit and credit, their sales go up by as much as 50 percent, their profits increase, and they relieve themselves of significant risk and bookkeeping headaches. But some merchants, like 7-Eleven, think that their customers should pay for this service instead, and that's not fair.

"We urge Members of Congress not to be fooled by this convenience store stunt - a clear and obvious attempt to line their pockets."

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