Close to two-thirds of all payment terminals at smaller retailers are not set up correctly, as the installed software favours Visa and Mastercard debit-payment networks over competitors.
This is totally not what I have read in the news papers and on the news,they made it seem like all these merchants had the setup already established.
Merchants will be forced to pass on the cost to the customers,I recall a Asian corner store around my way that used to tell people that they had to purchase over
$5 to use debit,which was wrong but they where trying to cut fees.
But these issues go well beyond SME’s alone, as Wal-Mart is affected by this change as well. The retail giant filed a complaint in New York state court on May 10th.
I do find a little irony in this.