Unclear if MasterCard Will Follow Visa Lead on Interchange
Visa has announced it will support a dual debit interchange schedule for those financial institutions not subject to the proposed debit interchange cap, but it is unclear whether MasterCard will do so.
"MasterCard is continuing to evaluate the viability of a two-tier interchange structure for debit and excluded products," the No.2 card brand said in a Jan. 7 statement. "We will be thoughtful and comprehensive in our analysis of this issue. We believe it is not prudent to make such a decision in advance of knowing all the facts."
But some CU executives said they remained hopeful that MasterCard will also support a dual interchange schedule for debit cards, pointing to MasterCard's last sentence.
"As we have done for over 40 years, MasterCard is committed to maintaining a competitive interchange structure that appropriately balances the payments ecosystem, and we plan to continue doing that going forward."