A new white paper released by the Merchant Advisory Group revealed the Federal Reserve's debit interchange regulation has kept debt interchange rates high at the same time that costs to process debit transactions have been falling.
On Thursday, the Merchant Advisory Group, which is a trade group made up of more than 80 of the largest U.S. merchants and is focused solely on payments, released," Volume and Cost Trends in the Debit Industry." The firm said it used the "2013 Federal Reserve Payments Study: Noncash Payment Trends in the United States: 2009-2013" as a source.
According to the report, the Fed's numbers showed mean issuer costs of processing a debit transaction dropped from 7.6 cents to 4.4 cents, a decrease of 42%.
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