Fed just rolled out the final Durbin caps
$0.21 + 5bps + $0.01… effectively leaving PIN Debit untouched for an average $38 transaction. What changed? Economics behind Signature Debit.. Sig Debit is dead…
From the Fed
Interchange fees. Networks reported that debit card interchange fees totaled $16.2 billion in 2009. Of this interchange-fee revenue, $12.5 billion was for signature debit transactions, $3.2 billion was for PIN debit transactions, and $0.5 billion was for prepaid card transactions. The average interchange fee for all debit card transactions was 44 cents per transaction, or 1.15 percent of the average transaction amount. The average interchange fee for signature debit transactions was 56 cents, or 1.53 percent of the average transaction amount. The average interchange fee for PIN debit transactions was significantly lower, at 23 cents per transaction, or 0.58 percent of the average transaction amount. Prepaid card interchange fees averaged 40 cents per transaction, or 1.28 percent of the average transaction amount.
At least some bloggers can still write. Thank you for this article..
What a frankly amazing piece…
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