Fed to review debit card fee cap next week
Payments Dive
OCTOBER 20, 2023
The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.
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Payments Dive
OCTOBER 20, 2023
The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.
Fintech News
MARCH 17, 2025
The report said the firm also raised the spending cap on its Chocolate Visa debit card to S$1,000, up from the S$250 limit imposed on 11 March 2025, to manage what it referred to as its liquidity programme. The company is working to process withdrawals in line with its standard redemption timeline of three to six business days.
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EBizCharge
JUNE 19, 2025
If you’ve ever wondered whether it’s legal to add a surcharge when someone pays with a debit card, you’re not alone. No, debit card surcharging isn’t legal in the U.S. The rules behind it come from a mix of card network policies, federal law, and state regulations. Can you surcharge a debit card?
Fintech News
JANUARY 21, 2025
These changes, which include lifting restrictions on WhatsApp Pay and postponing the implementation of a market share cap for UPI apps, underscore the NPCIs commitment to create a fairer digital payment landscape in India, and ensuring equal opportunities for all participants, India TV News reported.
Cardfellow
JUNE 16, 2025
It is acceptable for you to set a minimum charge on credit card purchases as long as you abide by the stipulations as set forth in your processing agreement with Visa, Mastercard and Discover. Typically, this includes applying the same minimum to all card brands. Debit cards: No.
Neopay
DECEMBER 17, 2024
To combat this, the regulator is proposing a price cap to bring relief to businesses and their customers. Rising Fees and Limited Competition Cards are integral to the UK economy, facilitating everyday transactions between businesses and consumers. to 1.15% and credit card fees from 0.3%
Fintech News
JUNE 19, 2025
The update includes a complimentary metal card, an increase in the deposit cap for higher interest earnings, and expanded partner privileges. The bank also introduced a metal card for Trust+ customers, which functions as both a credit and debit card and is offered without subscription or annual fees.
Finextra
DECEMBER 13, 2023
The Payment Systems Regulator is propsing to cap cross-border interchange fees on credit and debit cards to protect UK businesses from rising costs.
Payments Dive
JANUARY 23, 2024
The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.
Payments Dive
JUNE 20, 2024
Senators this week introduced their version of a House bill aimed at derailing the Federal Reserve’s plan to lower the cap on fees that card issuers can charge merchants on debit card transactions.
Payments Source
MAY 14, 2020
called on European Union regulators to crack down on credit and debit card fees that have increased after laws capped so-called interchange fees five years ago. Retailers including Tesco Plc, Ikea and Amazon.com Inc.
Payments Dive
MARCH 8, 2024
President Biden and Republican lawmakers sparred Thursday over credit card late fees, as some House members also challenged the Federal Reserve’s proposed cap on debit card fees.
Stax
DECEMBER 20, 2023
In the complicated world of payment processing, understanding the nuances of debit card and credit card payments, along with associated processing fees, is essential for businesses. TL;DR Card brands such as Visa and MasterCard along with state and federal laws prohibit debit card surcharging.
The Fintech Times
AUGUST 12, 2024
US consumers are increasingly turning to debit cards for their everyday transactions, driving a significant surge in the number of transactions and overall spending. The 2024 PULSE Debit Issuer Study reveals that in 2023, the total number of debit cards, transactions and annual spending per active card all saw substantial increases.
The Payments Association
JUNE 28, 2024
New regulations will cap overdraft fees, drastically reducing them from around $30 to approximately $3, significantly impacting banks' revenue streams. Read more
The Payments Association
APRIL 21, 2024
New regulations will cap overdraft fees, drastically reducing them from around $30 to approximately $3, significantly impacting banks' revenue streams. Read more
Fintech Finance
DECEMBER 13, 2023
The PSR is proposing to introduce a price cap to protect UK businesses from overpaying on these interchange fees. Subject to the PSR’s final report and further consultation on remedies, this could happen in two stages: An initial time-limited cap of 0.2% for UK-European Economic Area (EEA) consumer debit transactions and 0.3%
Stax
JULY 7, 2025
You Can’t Opt Out of Credit Card Payments Opting out of credit card processing altogether is not a viable option. Competitive pricing: Surcharging lets business owners offer competitive pricing to customers who choose to pay with alternative methods, such as cash or debit card transactions.
Stax
JULY 30, 2024
However, before implementing it, you must know all the state, federal, and card network rules surrounding it. Surcharges can only be applied to recoup some or all of the costs of allowing credit card purchases. Surcharging does not apply to debit cards even if they are used as credit cards.
PYMNTS
OCTOBER 14, 2020
On the plus side, Wells Fargo reported that card fees rose to $912 million in the third period, up from $797 million in second quarter. Wells Fargo also saw heightened debit card usage during Q3. Debit card point-of-sale purchase volume hit $102.9 billion in the period, up 11.1 percent from a year ago.
Fintech News
OCTOBER 27, 2024
The SRF’s liability provisions do not extend to transactions involving credit cards, charge cards, or debit cards issued in Singapore.
Payments Source
FEBRUARY 14, 2017
lawmakers to consider easing capital requirements and repealing part of the Dodd-Frank financial overhaul that caps fees banks charge retailers on debit-card transactions. Chief executives at the biggest U.S. regional banks are asking U.S.
PYMNTS
SEPTEMBER 8, 2017
A new study has found that the number of payment cards issued globally reached 14 billion last year and is predicted to rise to 17 billion by 2022, boosted by an increase in overall debit card issuance. For many, a debit card will normally be the first card they receive when they enter the banking system.
Clearly Payments
APRIL 25, 2024
Named after its chief advocate, Senator Richard Durbin , this legislative moved was designed to fix the increasing interchange fees charged by banks for debit card transactions. Prior to the Durbin Amendment, merchants would typically see debit card fees as 2% plus $0.40 ISO or aggregator). per transaction.
EBizCharge
JUNE 18, 2025
This isn’t just a formality—it’s your formal credit card surcharge notice to customers and the card network that a fee will be added to credit card purchases. This cap is in place to protect customers from being overcharged and to maintain consistency across merchants.
Stax
DECEMBER 20, 2023
Debit card transactions generally have lower interchange fees compared to credit card transactions. This is because debit cards are linked directly to the customer’s bank account, and the risk of non-payment or default is lower. For a $100 transaction, a swiped Mastercard debit card will cost you around 27¢.
The Fintech Times
JANUARY 28, 2025
.” Since 2015, UK law has capped the level of MIFs at 0.3 per cent for consumer credit card transactions. These capped fees, however, exceed the competitive level of charge. is unlawfully overcharged by Mastercard and Visa on payments made by credit and debit cards. For every 100 transaction, up to 0.30
Electronic Payments Coalition
JANUARY 17, 2024
CRS, whose mission is to offer research and analysis to Congress, echoed an earlier report by the Richmond Federal Reserve noting that consumers failed to see any meaningful cost savings as a result of similar legislation imposing routing mandates and price caps on debit card interchange.
The Fintech Times
DECEMBER 15, 2024
To ensure this doesn’t continue, it has proposed a consultation to price cap remedy to protect firms. per cent for debit cards and 0.3 per cent for credit cards over the course of 2021 and 2022. The PSR is consulting on whether to introduce a short-term, interim cap on fees and if so, at what level.
Electronic Payments Coalition
FEBRUARY 7, 2024
Since Congress introduced price caps and routing mandates on debit cards in 2011, research from independent and government sources has illuminated their disproportionate negative impact on small businesses.
PYMNTS
DECEMBER 2, 2020
Virtual card numbers can’t be copied, and their spend controls make overspending or unauthorized spending “virtually” impossible. For these and other reasons, virtual cards are suddenly hot, as Kelley Knutson, president of prepaid debit card provider Netspend, told PYMNTS.
Neopay
AUGUST 22, 2024
European banks have expressed “serious concerns” regarding the UK Payment Systems Regulator’s (PSR) plan to cap interchange fees on cross-border digital transactions. They warn that the proposed cap could lead to losses on transactions due to the increased costs associated with digital wallets like Apple Pay and Google Pay.
EBizCharge
JUNE 23, 2025
Card networks typically cap it at 4%, and you can’t apply it to debit or cash payments. Credit cards are one of the most popular forms of payment among customers, due to the rewards or extra benefits they offer. It won’t warn you if you exceed the card brand’s 4% cap either. Compliance is on you.
EBizCharge
JUNE 17, 2025
Used by merchants who want to keep prices competitive without absorbing card processing costs. Guidelines: Only applies to credit cards , not debit or prepaid cards. Capped at 3% or the actual cost of processing, whichever is lower. Can’t be used if the card is accepted in person (Visa rules).
EBizCharge
JUNE 19, 2025
Step 1: Understand the Basics Before you begin, it’s important to know exactly what a credit card surcharge is—and what it’s not. A surcharge is an added fee for customers who choose to pay with a credit card. They differ from blanket fees and don’t apply to cash, checks, or debit cards. Skipping notification.
Clearly Payments
MAY 22, 2025
General Terms Merchant A business that accepts credit or debit card payments. Transaction A payment made using a card or digital wallet. Issuer (Issuing Bank) The issuing bank is the bank that gave the customer their credit or debit card. Debit Card A card that pulls money directly from a bank account.
PYMNTS
SEPTEMBER 26, 2016
The high fees charged by private firms that are hired by the courts to operate e-filing systems and that are often passed onto consumers who pay with a credit card have been capped by a bill approved by California Governor Jerry Brown on Sept.
Stax
JUNE 24, 2025
The purpose of interchange fees is to compensate the issuing banks for the risks and costs associated with processing and managing credit card transactions. Interchange fees vary based on factors such as the type of credit card used (personal or business credit card), alternative cards (debit cards, rewards cards, etc.),
EBizCharge
JUNE 24, 2025
Others allow it but require specific steps like formal notification, prescribed signage, or capped surcharge amounts. Before applying a small business credit card surcharge, it’s essential to do your homework. FAQs FAQs Can I charge different fees for different cards? Most networks require the same fee across all credit cards.
Fintech News
SEPTEMBER 17, 2024
A new report by CMSPI, an American payment consultancy, produced in collaboration with Amazon, explores payment trends and regulations in Asia-Pacific (APAC), focusing on the impact of rising card fees on merchants and the regulatory responses to these challenges. The move led to a notable decrease in the cost of acceptance for merchants.
Clearly Payments
AUGUST 14, 2024
North American payment processing fees are the highest in the world due to a combination of factors, including high interchange rates , which can exceed 2% per transaction, and the dominance of major card networks like Visa and Mastercard that control over 80% of the market. Unlike Europe, where interchange fees are capped at 0.3%
PYMNTS
NOVEMBER 12, 2020
In mid-October, Wells Fargo reported markedly lower third-quarter earnings , but noted that credit card usage had climbed due to increased consumer spending. Credit card fees rose $912 million during the third quarter, up from $797 million in the second quarter. Wells Fargo also reported heightened debit card usage.
Clearly Payments
APRIL 16, 2024
The two countries also have some big differences on how payment processing fees work across debit cards and credit cards. An Overview of Interchange Rates Interchange rates are often referred to as swipe fees or credit card fees. Interchange rates also exist for debit cards in the USA, but not in Canada.
EBizCharge
JUNE 24, 2025
First, your point-of-sale (POS) system must be able to apply a separate surcharge line item only to credit card transactions. You’ll also need to ensure your hardware can support this setup without applying the fee to debit cards or other non-credit payments. Second, clear signage is key. Stay within limits. Be transparent.
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