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Tag >> debit
Jul 26
2010

Retailers get boost from debit card changes

Posted by mcole in Riskreformfinancial reform billdebitDealscredit cardcomplianceBanks

mcole

Visa and Mastercard dodged a major bullet as the financial reform signed into law last week didn't regulate debit card network fees, which they collect for each debit card swipe processed through their payment networks. However, the new law will likely reduce debit interchange fees, the fees that merchants pay to banks to process debit card payments from consumers.

As a result, although banks will be negatively impacted by a reduction in debit card fees they receive from merchants, they will also be able to pass on the extra cost to debit card companies and debit card holders.





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