bake - November 2012 - 18

legislation

Debit Card Swipe Fees
Oct. 1 marked the first anniversary of the implementation of the Federal Reserve rules issued under the Durbin Amendment, which reduced debit card swipe fees. The National Grocers Association and other retail groups applaud the reforms as a good first step in providing consumers and merchants relief from excessive swipe fees. “NGA members fought hard for the debit swipe fee reforms and believe it sets the stage for similar reforms to credit card swipe fees, which are eight times higher in the United States than in Europe and other developed countries,” says NGA President and CEO Peter Larkin. “To ensure the marketplace works like it should, we need transparency and competition brought to credit card swipe fees.” A report by Moody’s Investors Services recently concluded that retailers and other merchants operate in highly competitive markets, and as a result, retailers must keep prices as low as possible to stay in business.  The savings from debit reform has offset escalating costs of things like food commodities. While Moody’s conservatively projected that debit savings could counterbalance a normal rise in consumers prices, in fact, debit swipe reform has enhanced emphasis on the ability to provide discounts and other benefits for cash and has resulted in lower prices and savings for consumers in a number of circumstances. In related developments, the Food Marketing Institute earlier this year issued a report that examines the extent to which “Supermarkets have long encouraged their customers to enter a PIN when swiping a card because it is more secure and efficient, and we believe it’s inappropriate for food retailers to shoulder the cost burden of more fraud-prone signature cards,” says Leslie G. Sarasin, president and CEO of FMI. “Use of a PIN helps minimize data security risks preventing our customers from a card compromise that may leave them without critical access to funds in their checking accounts.” The report estimates the cost of fraud across the entire foodretailing sector. The FMI study points out that if food retailers accepted debit cards at the same rate as other stores, they could be paying as much as $3.17 billion in fraud prevention costs, more than 100 times what they actually lose from fraudulent transactions. Despite the higher frequency of fraud, banks historically encourage consumers to use signature debit cards, which are more profitable for banks than PIN debit cards. Merchants bear more of the cost of fraud on signature debit cards, as liability shifts away from issuers. Signature debit transactions account for 85% of all debit fraud, while 41% of purchases with debit transactions are completed with a more secure PIN debit transaction. food retailer members are paying a disproportionately higher amount in fraud prevention costs compared to the actual rate of debit fraud in their stores.

18 < NOV 2012 | bakemag.com


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bake - November 2012

Table of Contents for the Digital Edition of bake - November 2012

bake - November 2012
Editor's Note - Welcome News
Table of Contents
News Bites - RBA Roadshow in Chicago
Great Australian Bake Off
Meiko Launches Unique Washer
Corner Bakery to Add Stores
Gluten-Free Goes to SeaWorld
Management - Order Technology
Tax Tips - Extension Tips
Labor Front - Scheduling Efficiently
Legislation - Debit Card Swipe Fees
Ingredients - Honey Summit
Flavor Revolution
Back to Basics
Master the classics with a modern touch
Pricing for survival
Party Time
The Layer Cake’s ‘Mini-Me’
The Prize of Raisins
Succulent Stollen
The Premium Baguette
Cafe - Easy Panini
Products
Marketplace
Ad Index
Carta De Introduccion - Sabores nuevos y mercados nuevos
Introductory Letter - New Flavors & New Markets
Pan Y Horneo - Crecimiento en la conciencia de la Salud
Pasteles Y Decoraciones - Tortes, Tartas y postres
Tendencias Del Consumidor - Promociones Generan Ventas
Sabores nuevos y diversos
Perfiles - Canela Bakery
Perfiles - La Flor de Puebla
Perfiles - Victoria Bakery
Perfiles - Dulce Vida Bakery
Perfiles - La Campechanita
Perfiles - Raul's Bakery
Ideas De Mercadeo
Productos - Productos con mejor resultado por BakeMark
Bread & Baking - Health Awareness on the Rise
Cakes & Decorating - Tortes, Tarts & Sweet Goods
Shoppers Insight - Promotions Drive Business
New & Diverse Flavors
Profiles - Canela Bakery
Profiles - La Flor de Puebla
Profiles - Victoria Bakery
Profiles - Dulce Vida Bakery
Profiles - La Campechanita
Profiles - Raul's Bakery
Merchandising Tips
Products - Product Solutions from BakeMark
bake - November 2012 - bake - November 2012
bake - November 2012 - 2
bake - November 2012 - Editor's Note - Welcome News
bake - November 2012 - 4
bake - November 2012 - Table of Contents
bake - November 2012 - 6
bake - November 2012 - 7
bake - November 2012 - Great Australian Bake Off
bake - November 2012 - 9
bake - November 2012 - Gluten-Free Goes to SeaWorld
bake - November 2012 - 11
bake - November 2012 - Management - Order Technology
bake - November 2012 - 13
bake - November 2012 - Tax Tips - Extension Tips
bake - November 2012 - 15
bake - November 2012 - Labor Front - Scheduling Efficiently
bake - November 2012 - 17
bake - November 2012 - Legislation - Debit Card Swipe Fees
bake - November 2012 - 19
bake - November 2012 - Ingredients - Honey Summit
bake - November 2012 - 21
bake - November 2012 - Flavor Revolution
bake - November 2012 - 23
bake - November 2012 - 24
bake - November 2012 - 25
bake - November 2012 - 26
bake - November 2012 - 27
bake - November 2012 - Back to Basics
bake - November 2012 - 29
bake - November 2012 - 30
bake - November 2012 - 31
bake - November 2012 - 32
bake - November 2012 - Master the classics with a modern touch
bake - November 2012 - 34
bake - November 2012 - 35
bake - November 2012 - Pricing for survival
bake - November 2012 - 37
bake - November 2012 - 38
bake - November 2012 - 39
bake - November 2012 - Party Time
bake - November 2012 - 41
bake - November 2012 - 42
bake - November 2012 - 43
bake - November 2012 - The Layer Cake’s ‘Mini-Me’
bake - November 2012 - 45
bake - November 2012 - 46
bake - November 2012 - The Prize of Raisins
bake - November 2012 - 48
bake - November 2012 - 49
bake - November 2012 - 50
bake - November 2012 - 51
bake - November 2012 - Succulent Stollen
bake - November 2012 - 53
bake - November 2012 - 54
bake - November 2012 - 55
bake - November 2012 - The Premium Baguette
bake - November 2012 - 57
bake - November 2012 - Cafe - Easy Panini
bake - November 2012 - 59
bake - November 2012 - 60
bake - November 2012 - Products
bake - November 2012 - 62
bake - November 2012 - Marketplace
bake - November 2012 - 64
bake - November 2012 - 65
bake - November 2012 - Ad Index
bake - November 2012 - 67
bake - November 2012 - 68
bake - November 2012 - b - 1
bake - November 2012 - b - 2
bake - November 2012 - Pan - 1
bake - November 2012 - Pan - 2
bake - November 2012 - Carta De Introduccion - Sabores nuevos y mercados nuevos
bake - November 2012 - Introductory Letter - New Flavors & New Markets
bake - November 2012 - Pan - 5
bake - November 2012 - Pan Y Horneo - Crecimiento en la conciencia de la Salud
bake - November 2012 - Pan - 7
bake - November 2012 - Pan - 8
bake - November 2012 - Pan - 9
bake - November 2012 - Pasteles Y Decoraciones - Tortes, Tartas y postres
bake - November 2012 - Pan - 11
bake - November 2012 - Pan - 12
bake - November 2012 - Pan - 13
bake - November 2012 - Tendencias Del Consumidor - Promociones Generan Ventas
bake - November 2012 - Pan - 15
bake - November 2012 - Pan - 16
bake - November 2012 - Pan - 17
bake - November 2012 - Sabores nuevos y diversos
bake - November 2012 - Pan - 19
bake - November 2012 - Pan - 20
bake - November 2012 - Pan - 21
bake - November 2012 - Perfiles - Canela Bakery
bake - November 2012 - Pan - 23
bake - November 2012 - Perfiles - La Flor de Puebla
bake - November 2012 - Pan - 25
bake - November 2012 - Perfiles - Victoria Bakery
bake - November 2012 - Perfiles - Dulce Vida Bakery
bake - November 2012 - Perfiles - La Campechanita
bake - November 2012 - Perfiles - Raul's Bakery
bake - November 2012 - Ideas De Mercadeo
bake - November 2012 - Pan - 31
bake - November 2012 - Productos - Productos con mejor resultado por BakeMark
bake - November 2012 - Pan - 33
bake - November 2012 - Bread & Baking - Health Awareness on the Rise
bake - November 2012 - Pan - 35
bake - November 2012 - Cakes & Decorating - Tortes, Tarts & Sweet Goods
bake - November 2012 - Pan - 37
bake - November 2012 - Shoppers Insight - Promotions Drive Business
bake - November 2012 - Pan - 39
bake - November 2012 - New & Diverse Flavors
bake - November 2012 - Pan - 41
bake - November 2012 - Profiles - Canela Bakery
bake - November 2012 - Pan - 43
bake - November 2012 - Profiles - La Flor de Puebla
bake - November 2012 - Pan - 45
bake - November 2012 - Profiles - Victoria Bakery
bake - November 2012 - Profiles - Dulce Vida Bakery
bake - November 2012 - Profiles - La Campechanita
bake - November 2012 - Profiles - Raul's Bakery
bake - November 2012 - Merchandising Tips
bake - November 2012 - Products - Product Solutions from BakeMark
bake - November 2012 - Pan - 52
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