Payments/Credit/Debit

Both numbers of cards and amounts charged are higher.

Both numbers of cards and amounts charged are higher.

The Federal Reserve has always kept a focus on the integrity, efficiency and accessibility of the payments system in the United States. We have largely pursued this mission in the context of our function as an operator in the interbank market.

SAN FRANCISCO Nobody is in a rush to toss out their leather wallet and replace it with a digital wallet on their phone.

The Nilson Report, a noted payments industry newsletter, reported Nov. 11 that debit cards lost purchase volume and transaction ground to credit cards in 2012.

While it would seem like credit card compliance issues are in the rearview mirror, now is the perfect time for credit unions to review their procedures to ensure they remain compliant.