CHICAGO -- As the 2006 NACS State of the Industry Summit in partnership with CSP got under way Wednesday, a call to arms to fight rising credit-card fees drew the first applause of the day from attendees.
During the event, 2005-2006 NACS chairman Scott Hartman shared with attendees how NACS and a number of other merchant associations are working together as part of the Merchants Payments Coalition (MPC) to fight high interchange fees.
Hartman, president and CEO of Rutter's Farm Stores, York, Pa., said that to remain a [image-nocss] viable, competitive channel, the industry must reinvest, embrace technology and "never stop fighting for what is right, like the Merchants Payments Coalition effort working to reduce credit-card fees. We've got to fight for that," said Hartman, drawing applause from attendees.
"How is it that every other expense goes down except for credit-card fees?" asked NACS vice chairman of research and technology Richard Oneslager, CEO of Balmar Petroleum, Denver, in introducing the industry's numbers following Hartman's remarks.
A Q&A session with the morning's speakers drew additional comments from attendees on credit-card fees. "On the street, we are competitors, but on this issue, we are united," said Teri Richman on the fight to reduce high interchange fees.
More than 450 top convenience and petroleum retailing executives, suppliers and advisorsexamined the industry's operational and financial performance at the Westin O'Hare in Chicago during the Summit, which ended yesterday. NACS has developed the annual State of the Industry report, the industry's premier benchmarking tool, since 1971.
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