The Durbin Amendment may be best known for its stringent ceiling on debit card interchange, but merchants are discovering that another part of the law that requires transaction-routing choices can be just as effective as rate caps in controlling processing costs. Giant Eagle Inc., a Pittsburgh-based supermarket chain operating nearly …

By Jim Daly Results of a merchant processor’s survey released Wednesday claim that only 4% of small businesses have point-of-sale terminals that can accept near-field communication (NFC) contactless mobile payments, and only a small minority currently plan to upgrade their equipment so they can. Meanwhile, payment processor Vantiv Inc. on …

The ATM Industry Association met today with members of the Federal Reserve staff to discuss making ATM debit transactions subject to the routing requirements of the Durbin Amendment to the 2010 Dodd-Frank Act. The association, which represents ATM independent sales organizations and other retail deployers, wants the provision because it …

Arguing that a federal appeals court “disregarded the plain letter of the statute,” a group of merchants and merchant associations is preparing a request to the U.S. Supreme Court to review a case in which it is battling to overturn the Federal Reserve Board’s interpretation of the Durbin Amendment’s debit …

An appellate court’s Friday decision reinstating the Federal Reserve Board’s controversial interpretation of the Dodd-Frank Act’s Durbin Amendment with its debit card interchange cap and transaction-routing requirements continues to draw fire, but whether the merchants and retail groups that brought the appeal and lost will trudge on in court remains …

In the wake of recent data breaches at Target Corp. and other retailers, U.S. Sen. Richard Durbin, author of a famous amendment that regulates debit card interchange, and an ally want to know how well a provision in the amendment that gives a debit card issuer an extra penny in …

We couldn’t recruit David Letterman to help us with this article, but what follows are the Top 10 U.S. payments events of 2013 as identified by the Retail Payments Risk Forum, a research and industry-dialogue unit at the Federal Reserve Bank of Atlanta. 10. The Consumer Financial Protection Bureau finalized …

  Ten U.S. debit networks have formed the Debit Network Alliance LLC, an organization meant to ensure they have a competitive stake in the debit industry following the U.S. payment-industry migration to the EMV chip card standard, expected within a couple of years. The new group has sprung up as …

Durbin Amendment critics have long accused merchants of pocketing the billions they’ve saved since the amendment’s highly controversial debit card interchange price controls took effect two years ago Tuesday. Now, however, retailers are rolling out a study estimating that merchants passed on $5.86 billion in Durbin-related savings to consumers last …

By John Stewart n The inexorable economics of the Durbin Amendment are beginning to make themselves felt in the vibrant business of network-branded gift cards. n JPMorgan Chase & Co., one of a handful of major banks that offer Visa- and MasterCard-branded gift cards, this spring stopped selling its Visa …