A new study released by the Merchants Payments Coalition (MPC) on October 1 has indicated that customers and merchants benefited from debit card swipe fee reform in the U.S., and that the regulation has spurred consumer spending and job creation around the country.
Further, the study reveals that benefits could have been greater had the Federal Reserve set a lower cap on both credit and debit swipe fees.
“The fight to bring swipe fees under control is far from over,” said NRF Senior Vice President and General Counsel Mallory Duncan in an October 1 statement.
For more on the results of the MPC study and the debit card swipe fee cap, click here. For alternative findings that suggest the Durbin Ammendment has caused consumers to pay more in stores, read this new report from Electronic Payments Coalition.
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