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Monday, March 28, 2011

Interchange Rates Have Remained Stable; Sen. Sessions Agrees to Cosponsor Bill

A new ABA whitepaper explains that interchange rates for debit card payments have remained relatively steady over the past several years.

The rise in total interchange fees paid by merchants is a result of growing sales volumes combined with customers and merchants choosing to increase their use and acceptance of debit cards as a means of payment - not due to an increase in the interchange rates.

The rise in total interchange fees paid is a sign of the success of retailers in selling more products, not a sign that merchants are being charged more.

See the ABA paper.

In other news, Sen. Jeff Sessions (R-Ala.) has agreed to become a cosponsor of the ABA-backed interchange stop-and-study bill (S. 575). The Senate bill now has 15 cosponsors.

Use ABA's resources to urge your legislators to support for S. 575 and similar legislation in the House, H.R. 1081.

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