Retailers Say New Fed Debit Card Regulations Mean Networks Will Have to Compete Online
The National Retail Federation today welcomed the Federal Reserve’s approval of regulations that clarify that banks and credit card networks are legally required to give retailers a choice between two unaffiliated networks over which to route debit card transactions regardless of whether purchases take place in-store or online.
“The Federal Reserve has declared once and for all that a debit transaction is a debit transaction no matter where it takes place and that merchants have the right to choose the network that offers the..."
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