Heartland Payments Systems, a leading merchant paymentsprocessor, estimates that merchants will save at least $1,000 ondebit interchange in the wake of regulations implementing theDurbin Amendment.

The processor reported that between Oct. 1 and Oct. 11, it haspassed on $5,532,318 in savings from the regulations to itsmerchant clients, with $1,992,770 going to restaurant owners.

Based on the transactions in that 10-day period, the processorestimated that 64% of its debit traffic came from cards issued byfinancial institutions under the cap and that 36% came fromfinancial institutions that are not under the cap.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.