Fed looks to boost competition in debit card payments

Federal Reserve

The Federal Reserve announced on May 7 it would amend regulatory language to stress that debit card issuers must provide at least two independent payment networks for each card.

Currently, many debit card issuers do not provide sufficient payment options for card-not-present payments, the Fed said in a statement. The revised language appears to aim at improving competition in payments.

Under the Dodd-Frank Act of 2010, debit card issuers are required to offer merchants a choice of at least two

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.