Merchants and card issuers released separate studies Oct. 1 that made contradictory claims regarding the effect the Durbin Amendment's interchange cap has had on consumers. The groups timed their releases to coincide with the two-year anniversary of cap's effective date.
As in previous years, the Electronic Payments Coalition said the cap has not translated into consumer savings.
However the Merchant Payment Coalition, a trade group organized to lower debit and credit card interchange, released a study that claimed the cap saved consumers $5.8 billion.
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