The Attack on Merchant Debit Savings Summary
CMSPI estimates that merchants and consumers will save big - $3 billion each year, collectively - as a result of the Federal Reserve's card-not-present (CNP) debit clarification, effective July 2023.
For large businesses accepting card payments, there could be significant seven-figure annual savings available as a savings opportunity once centered around brick-and-mortar finally expands to digital payments, but as demonstrated in the years following the Durbin amendment, the global networks will play along with regulatory requirement, but routing-based savings don't come easily.
While merchants are still dealing with some of the initial debit threats challenges today, there’s a concern that the initial attack on debit will have a sequel in the lead up to the July 2023 deadline.
Read below to learn more about the PINless debit routing opportunity and the prescient threats.
Interested in learning more? Read 'The Attack on Merchant Debit Savings Report'.