The Federal Reserve is reportedly ready to propose reducing debit card fees for merchants. The U.S. central bank on Tuesday (Oct. 17) announced a meeting scheduled for Oct. 25 with one topic on the agenda: “Proposed revisions to the Board’s debit interchange fee cap.” Hours...
Federal regulators have finalized an order requiring Mastercard to share card data with other payment networks. The Federal Trade Commission (FTC) said the consent order settles charges that Mastercard had unlawfully forced merchants to route debit card payments through its network, in violation of the 2010...
President Joe Biden kicked off the month of July with a bang, signing a sweeping executive order (EO) aimed at promoting competitive markets across the U.S. economy and limiting what the White House has described as corporate dominance that puts consumers, workers and smaller companies...
U.S. shoppers made 72.7 billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. Consumers only see a small part of what is involved in using this method, however. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices...
July 26, 2021
President Joe Biden kicked off the month of July with a bang, signing a sweeping executive order (EO) aimed at promoting competitive markets across the U.S. economy and limiting what the White House has described as corporate dominance that puts consumers, workers and smaller companies at a disadvantage. The EO is quite lengthy — 72 […]
May 30, 2023
Federal regulators have finalized an order requiring Mastercard to share card data with other payment networks. The Federal Trade Commission (FTC) said the consent order settles charges that Mastercard had unlawfully forced merchants to route debit card payments through its network, in violation of the 2010 Dodd Frank Act’s Durbin Amendment. “Under the FTC’s order, Mastercard […]
May 26, 2017
Retailers — led by Walmart — seem to have beaten back an attempt to raise swipe fees, according to Congressional aides speaking to Bloomberg. Despite vigorous lobbying from the finance...
September 07, 2016
More than 400 big and small retailers have joined forces to urge Congress not to repeal the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, arguing...
September 07, 2015
The first debit-compliant EMV dual-interface card has reached the U.S. market — and it came from a German company. Last week, Giesecke & Devrient (G&D), headquartered in Munich, introduced its...
