April 1, 2000
LANSING -- The Michigan Retailers Association (MRA) announced today that it will provide credit card processing services for members of the Michigan Automobile Dealers Association (MADA) under a new agreement between the organizations.
The partnership allows MADA's nearly 800 franchised new car dealer members to participate in the low-cost bankcard processing program MRA has offered its members for more than three decades.
MRA is the oldest non-bank credit card processor in the United States and the only one in Michigan to process transactions for all four major cards: Visa, MasterCard, Discover and American Express. MRA processes more than $400 million annually in transactions.
Three other associations -- the Michigan Lumber and Building Materials Association, the Michigan State Medical Society and the Michigan Nursery and Landscape Association -- also have bankcard partnerships with MRA. In addition, MRA processes credit card transactions for business clients of more than 25 community banks across the state.
"We were attracted by the opportunity to work with a local processor," said Barry McGuire, executive vice president of MADA. "Also, because MRA has marketing representatives throughout the state, it is best equipped to service all our dealers, even those with a smaller sales volume."
The partnership benefits members of both associations. Growing participation in the program means the lowest rates for everyone, said Larry Meyer, MRA's chief executive officer. "As we increase the number of transactions we process, we can negotiate the lowest costs for all bankcard program participants," he said.
The Michigan Retailers Association is the unified voice of retailing in Michigan and the nation's largest state trade association of general merchandise retailers. MRA's more than 5,000 retail business members operate more than 12,000 stores across the state.