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Federal Reserve Board Invites Public Comment On Proposed Changes To Regulation II Regarding Network Availability For Card-Not-Present Debit Card Transactions And Publishes A Biennial Report Containing Summary Information On Debit Card Transactions In 2019

Federal Reserve Board Invites Public Comment On Proposed Changes To Regulation II Regarding Network Availability For Card-Not-Present Debit Card Transactions And Publishes A Biennial Report Containing Summary Information On Debit Card Transactions In 2019 Date 07/05/2021 The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. The Board views these clarifications of Regulation II s existing requirements as necessary in light of information indicating that often only one network is enabled for such transactions.

Federal Reserve Board invites public comment on proposed changes to Regulation II regarding network availability

Date Time Federal Reserve Board invites public comment on proposed changes to Regulation II regarding network availability The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. The Board views these clarifications of Regulation II’s existing requirements as necessary in light of information indicating that often only one network is enabled for such transactions. Additionally, the Board published today a biennial report containing summary information on debit card transactions in 2019.

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