11:46 - 26.10.2023

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October 26, Fineko/abc.az. The Council of the Federal Reserve System (FRS) of the United States held a meeting to review the fees for debit card transactions.

ABC.AZ reports that at the meeting it was proposed to lower the upper limit of the commission that sellers pay to banks for consumer transactions with debit cards from 21 cents to 14.4 cents per transaction.

In addition, the commission charged on the total transaction fee was to be reduced from 0.05 percent to 0.04 percent.

The proposal also provides for the extension of the upper limit of the duty every two years, the Fed said in a statement.

The retail industry has supported the Fed's proposal to cut the fees charged for debit card transactions.