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Local Product Search continued from page 8
shoppers will have the choice to opt-in to a feature that will include a local shopping tab in the search results, to check a product’s local, or in-store availability directly from the eBay search results page. For now, the local search feature has been integrated with eBay Garden, but will be extended to other search portals in the near future. In addition, eBay, is pro-
viding retailers who use QuickBooks a way to upload their inventory onto Milo and eBay, through a new inventory management plug-in, making it a lot easier for retailers to inte- grate their offl ine merchandise onto Milo and eBay. For eBay, local appears to be one of the key strategies that will drive the ecommerce company in the future. Forrester estimates that online research to offl ine buy- ing is a $917 billion market that will eventually reach $1.3 tril- lion, and account for nearly 50 percent of total retail sales by 2013. eBay wants to get in on this revenue source. This story originally appeared on Tech-
Crunch.com, at http://tinyurl. com/4gh9xdy. ■
Swipe Fee Reform continued from page 16
Federal Reserve Chairman,
Ben Bernanke, has said the Fed will be able to fi nalize swipe fee reform regulations in time for the new rules to take effect on July 21, as scheduled. Regula- tions proposed by the Fed in December would lower debit card swipe fees, from their cur-
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rent level of one to two percent of each transaction, to a fl at fee of no more than 12 cents per transaction, for large banks that adhere to fees set by the card companies. Banks that set their own rates would be free to charge any fee they be- lieve the market would bear, provided they do so indepen- dently. The move would reduce the current $20 billion a year in debit swipe fees by about 70 percent, or $1.2 billion a month. Financial institutions with less than $10 billion in assets are exempt. ■
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