PRINCETON, N.J.--(BUSINESS WIRE)--From Maine to California, merchants are receiving hundreds of Durbin Dollars as a result of the Durbin Amendment. Heartland Payment Systems® (NYSE: HPY), one of the nation’s largest payments processors, has released the first state-specific data about the legislation’s actual effects on business owners in various states across the country.
The data collected between October 1, 2011 and October 16, 2011 across Heartland’s portfolio of 250,000 merchant locations shows for every $100,000 of Visa® and MasterCard® signature debit and credit card volume processed, the average savings per merchant across all states is $260.24. Washington, DC merchants received the highest average savings of $333.94, while Montana merchants saw the least average savings of $127.87. The savings variance from state to state is a result of the number of large versus small banks in the area, as well as the mix of credit and debit card volume processed.
These figures represent the averages of actual credit versus debit and regulated versus non-regulated debit transactions for Heartland merchants and do not include the impact of PIN debit volume.
“Merchants are wondering how the percentage of regulated versus non-regulated transactions in their states would impact their savings, and this data provides insight into exactly that,” said Bob Baldwin, Heartland’s president. “By providing business owners a frame of reference for how much money, on average, their peers across their state are saving from Durbin, they have an idea of what their own savings may be. Familiarizing themselves with this information is a preliminary step in ensuring they receive the full benefit of the reform.”
Average savings per merchant for all states can be found in the table below:
State |
Average Savings Per Merchant for Every $100,000 of Visa/MasterCard Signature Debit and Credit Card Volume Processed |
State |
Average Savings Per Merchant for Every $100,000 of Visa/MasterCard Signature Debit and Credit Card Volume Processed |
|||||||||
Alabama | $260.92 | Nebraska | $230.00 | |||||||||
Alaska | $131.68 | Nevada | $332.33 | |||||||||
Arizona | $326.13 | New Hampshire | $202.63 | |||||||||
Arkansas | $223.11 | New Jersey | $308.58 | |||||||||
California | $299.60 | New Mexico | $238.94 | |||||||||
Colorado | $280.27 | New York | $272.16 | |||||||||
Connecticut | $261.05 | North Carolina | $325.53 | |||||||||
Delaware | $270.76 | North Dakota | $134.88 | |||||||||
Florida | $296.28 | Ohio | $314.27 | |||||||||
Georgia | $304.07 | Oklahoma | $207.97 | |||||||||
Hawaii | $197.47 | Oregon | $267.47 | |||||||||
Idaho | $245.66 | Pennsylvania | $233.22 | |||||||||
Illinois | $271.53 | Rhode Island | $284.19 | |||||||||
Indiana | $209.95 | South Carolina | $250.47 | |||||||||
Iowa | $153.94 | South Dakota | $186.64 | |||||||||
Kansas | $170.65 | Tennessee | $260.38 | |||||||||
Kentucky | $217.22 | Texas | $310.43 | |||||||||
Louisiana | $295.91 | Utah | $198.20 | |||||||||
Maine | $154.09 | Vermont | $151.16 | |||||||||
Maryland | $320.37 | Virginia | $289.90 | |||||||||
Massachusetts | $225.89 | Washington | $244.83 | |||||||||
Michigan | $232.20 | Washington DC | $333.94 | |||||||||
Minnesota | $212.24 | West Virginia | $202.76 | |||||||||
Mississippi | $195.71 | Wisconsin | $158.54 | |||||||||
Missouri | $222.06 | Wyoming | $156.82 | |||||||||
Montana | $127.87 | |||||||||||
For more information on the Durbin Amendment, visit GetYourDurbinDollars.com.
About Heartland Payment Systems
Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, gift marketing and loyalty programs, payroll, check management and related business solutions to more than 250,000 business locations nationwide. A FORTUNE 1000 company, Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. The company is also a leader in the development of end-to-end encryption technology designed to protect cardholder data, rendering it useless to cybercriminals. For more information, please visit HeartlandPaymentSystems.com and MerchantBillofRights.org.