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Friday, September 28, 2012

Retailers’ Interchange Savings Does Not Help Customers

The Electronic Payments Coalition (EPC) has released a study showing that one year after the Federal Reserve’s interchange rule under the Durbin amendment went into effect retailers have not passed on their substantial savings to customers.

“Despite retailer promises of lower prices, consumers paid on average 1.5% more after the implementation of the Durbin amendment,” the EPC said. “These higher prices for consumers come as retailers save billions and debit card issuers are forced to make up for lost revenue.”

View the report.

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