Member News Category: Credit Card Fees

Register for ITOC Connect – Apr. 25

THURSDAY, APRIL 25
11:00AM PST / 1:00PM CST / 2:00PM EST

Register Now

Join us for next week’s ITOC Connect to prepare your cinema for the highly anticipated summer season. This interactive session will provide insights into the box office and a discussion focused on strengthening management skills, addressing common leadership challenges, and creating a positive culture within your company.

Upcoming Film Slate and Box Office Trends

Phil Contrino, NATO’s Director of Media & Research, will provide a detailed analysis of the upcoming movie release slate and the latest box office trends. 

Enhancing Leadership in Cinema Management

 Heather Morgan, Chief of Staff and Strategy at Alamo Drafthouse Cinema, and Brett King, Founder and CEO of CineTRAIN, will guide a conversation on cultivating a strong leadership mindset and tactical approaches for improving leadership skills throughout your cinema. Be prepared to engage and share how your company implements these essential practices.

Blockbuster Success: Leadership Strategies for a Thriving Summer Season

And as the summer movie season approaches, CineTRAIN has invited ITOC members to attend its upcoming webinar on preparing your managers and leaders for success! The webinar will be held on Tuesday, April 23,10:00AM PST / Noon CST / 1:00PM EST. Click here to register. 

Community in Focus

Join the spotlight in our “Community In Focus” session! This is your chance to share your company’s approaches to management and leadership, what’s working, and what’s exciting at your venue. It’s a great way to learn from each other, swap tips, and get inspired.

ITOC Connect Recap, Mar. 28

Thank you for participating in last week’s ITOC Connect call. Below you will find materials provided by Universal and information on how to claim your share of the $5.5-billion Visa and Mastercard Payment Card Settlement.

Also, we look forward to seeing the more than 300 exhibitors who have registered for the ITOC event on Monday, April 8 from 11:15am to 2:45pm in the Octavius Ballroom – Promenade Level at Caesars Palace. If you haven’t registered and plan to attend, please sign up today!

The team from Universal has provided materials on how independents can have fun in promoting Abigail and The Fall Guy, including the slide deck from their presentation and innovative food and beverage ideas to enhance your marketing efforts for these films.
Abigail Slide Deck
The Fall Guy Slide Deck
Food and Beverage Ideas

Payment Card Settlement Webinar

If your business accepted Visa or Mastercard at any time between Jan. 1, 2004, and Jan. 25, 2019, you may be eligible for a share of the $5.5-billion Visa and Mastercard Payment Card Settlement. The legal team that led the case has provided NATO an on-demand webinar on how exhibitors can claim their share. The settlement resolved claims that Visa and MasterCard overcharged retailers on interchange fees when consumers made purchases using credit or debit cards and prevented retailers from directing customers toward less expensive payment methods.

On-Demand Webinar (Claims process starts at 11:37)
Webinar Slide Deck
Claim Your Share

If you have questions or didn’t receive a claim form or can’t find your claim form, contact the settlement administrator at info@PaymentCardSettlement.com or 1-800-625-6440.

 

Headlines Newsletter, 3/27/2024

Let us know when you are hosting an event or opening a new theatre! 

NOTE: Inclusion of articles in the newsletter DOES NOT equal an endorsement by NATO

Credit Card Fees

Reuters: Visa, Mastercard reach $30 billion settlement over credit card fees Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices.

The antitrust settlement announced on Tuesday is one of the largest in U.S. history, and if it receives court approval would resolve most claims in nationwide litigation that began in 2005.

Some critics believe it may not go far enough, saying the savings would be temporary and fees would remain high.

Proposed Visa/Mastercard Swipe Fee Settlement Won’t Help Main Street A proposed agreement announced today for Visa and Mastercard to reduce “swipe” fees charged to merchants to process credit card transactions would provide “very small relief” and does not end the need for Congress to pass legislation, the Merchants Payments Coalition said.

“This settlement is a bad deal for merchants,” MPC Executive Committee member and National Grocers Association Senior Vice President of Government Relations and Counsel Christopher Jones said. “A few years of very small relief followed by business as usual is not a good outcome from 20 years of litigation. The settlement does nothing to actually bring competitive market forces to swipe fees or change the behavior of a cartel that centrally fixes rates and bars competition. Instead, it tries to provide token, temporary relief and then allows the card companies to raise rates yet again. Congress needs to act so that we will have real reform that will benefit merchants and their customers.”