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Federal Reserve solicits comments on debit routing update

To make clear that debit card issuers should allow merchants a choice for routing card-not-present debit payments, the Federal Reserve is seeking public comment on proposed changes to Regulation II.   The regulation allows the government to cap interchange fees on debit transactions for larger issuers, as...

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Electronic payments surged in 2020

The pace of electronic payments jumped last year at a faster pace than the year before as top banks sent more payments than ever during the COVID-19 pandemic, with 26.8 billion transactions worth $61.9 trillion, according to Nacha’s annual report. In total, the top...

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