December 21, 2023

Notice of Official Visa/Mastercard Settlement

Over the last two weeks, we've heard from several members who have been receiving legal notices regarding a large, class action settlement implicating Visa, MasterCard, and several banks. The settlement claims that antitrust laws were violated and that merchants paid excessive fees. After years of litigation, a $5.54 billion settlement was reached.

This is a legitimate settlement and offer. If you get one of these notices in the mail you should use your claim number to register on the official website:  https://www.paymentcardsettlement.com

Mailings will continue through the end of January. The notice includes those businesses that accepted Visa and MasterCard branded cards from January 1, 2004 to January 25, 2019, and list the homepage to an official court-authorized settlement website. Also included in the notice is a summary of the number of transactions made, the monetary volume, and the estimated interchange fees that you originally paid.

It should be noted that the window to join the class settlement agreement will expire on May 31, 2024, and no business will receive funds without first filing a claim.

You can learn more about the accompanying details by CLICKING HERE or by visiting the official settlement agreement website by CLICKING HERE. 

Email Joe@njgca.org or Nick@njgca.org if you have more questions. 
 

Lottery Bill Passes

On Monday the Assembly State and Local Government Committee unanimously passed a bill, A-5892, which would clarify beyond any doubt that the state Lottery Commission cannot license itself to be a retailer and start selling lottery tickets online, as they plan to do next year. Though this is just one Committee hearing, the fact that Assembly leadership went out of their way to add the bill to the Committee agenda the day it was introduced, and that it passed with a bipartisan 5-0 vote, shows how seriously legislators are taking this threat to small businesses. We hope to see this progress continue. You can read our testimony HERE.

Reminder on Credit Card Surcharge Law

The Division of Consumer Affairs recently sent out a press release, you can read HERE, and issued a helpful FAQ about the law which you can review HERE. They are actively enforcing the new law regulating credit card surcharges and have fined a list of businesses (mostly restaurants) for noncompliance. Fundamentally, the law is just to make sure that the card surcharge is not higher than the actual processing costs, and that consumers are aware of the surcharge. Feel free to reach out to Nick@njgca.org with any further questions. 

Merry Christmas

We wish you and your family a very Merry Christmas this Monday, and hope everyone can enjoy some quiet and relaxation with your families. 

Reminder: Webinar Now Available to Watch--Potential Solution to Labor Shortage?

In case you missed our webinar last week, you can now download and watch at your convenience by clicking HERE. You can also separately view the slide deck HERE. 

This was a webinar with a company called ShiftSmart, which can potentially help your business by giving you access to their workers to come in and work small shifts, whether as gas attendants, stocking shelves, or cleaning up the shop. You can find all the details in their presentation. 

Normally they only work with larger multisite companies, but we are considering a program to pool together our members to get access. We will only move forward if we have enough interest, so please contact Nick@njgca.org if you are seriously interested (no need to formally commit, just serious interest). 

Member Benefit Partner Spotlight: Association Member Trust (AMT)

NJGCA in partnership with Association Member Trust (AMT) can help you manage the ever-increasing cost of Healthcare Coverage.

When member businesses of the NJGCA join AMT, they get superior value and service from a self-funded, not-for-profit Benefits Trust that serves the needs of thousands of participating employer members. AMT’s plans are designed to give small businesses more options with better service at lower cost. Healthcare consumers should expect and get more, so they put their profits into improving their plans, and, when possible, pay dividends.

NJGCA members receive:

• The largest selection of competitively priced, self-funded health coverage plan options

• Access to the provider networks of Horizon Blue Cross Blue Shield of NJ and Delta Dental of NJ.

• Dedicated service people who help you with plan selection, service and claims.

Request an Online Quote Visit www.amt-nj.com and click on “Request a Quote.” Their easy form will automatically generate several plan options for your review. Their representatives can advise you on selecting the right plan for your needs.

Contact: Marta DiGesu 973-379-1090 x. 246 info@amt-nj.com 

Rack Averages

News Worth Knowing:

Available Real Estate

NEW Station for Sale

Thriving High Profit Gas/Service Station close to Major Highway in Prime Location. 

This Exclusive Gas Station is the Sole Provider in the entire town, achieving a remarkable fuel profit of up to and sometimes over 1$ a gallon. Consistently selling 45,000 gallons monthly. Most fuel customers come from Highway so fuel prices do not have to be competitive. 

Also included with the Property is a Reputable High End Auto Repair Facility. Repair shop has all required Specialty and Diagnostic Tools for servicing mostly High End Vehicles. Advertising is no longer used do to an enormous Demand and large Customer Base. Repair Business has has potential for increased profitability and expansion, the business is open to experienced buyers for a possible partnership or profit sharing arrangement. Location is 1 out of 100. Fuel sales make 20-40K a month and repairs can do the same with the right operator. 

This one of a kind opportunity can include seller financing for those with High-Level Automotive or Gas Station Experience.

Contact Greg
908-291-7845
 

Cape Harbor Shell

795 Route 109

Unit B

Lower Township, NJ, 08204

CLICK HERE to view the listing

Our Road Warrior newsletter is brought to you by the following Member Benefit Partners: