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The Durbin amendment, implemented by Regulation II, [1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing.
A part of the settlement that allows merchants to charge fees to customers paying via credit card in order to recoup swipe fees took effect on January 27, 2013. Debit cards and transactions in the ten states that prohibit credit-card surcharges will not be affected.
Interchange fees have a complex pricing structure, which is based on the card brand, regions or jurisdictions, the type of credit or debit card, the type and size of the accepting merchant, and the type of transaction (e.g. online, in-store, phone order, whether the card is present for the transaction, etc.).
Credit card processing fees typically range from 2% to 3.5% per transaction (plus in many cases, a per-swipe fee of about 30 cents). ... accepting debit and credit cards is an absolute imperative ...
Carpenter says his credit card and debit card processing fees have risen from $50,000 a year in 2000 to $900,000 a year today. "We're paying for all the reward points and all the air miles ...
Banks received some long-awaited news last week: the Federal Reserve voted to cap fees charged to retailers on debit card transactions at roughly 24 cents per transaction, down from an average of ...
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