Guaranteeing Retailers' Online Payment Routing Choice

Tell the Federal Reserve to adopt federal regulations on payments processing that could save retailers billions of dollars. 

The Federal Reserve recently announced that it plans to clarify that banks must allow retailers to decide where to route online debit card transactions for processing the same as they do with in-store debit transactions. This proposed regulation will positively impact retailers by increasing competition needed over the fees banks and card networks charge merchants to process card transactions. 

With the accelerated shift to online spending during the pandemic, this issue is more important than ever. The lack of routing ability for online payments has cost retailers billions of dollars and ultimately drives up prices for consumers. The higher costs that come from lack of online routing choice is an added expense businesses can’t afford as they work to recover from the economic impacts of COVID-19. 

Add your voice today and tell the Federal Reserve to allow retailers to have the same routing choice for online payments that they do for in-store payments.

Comments must be submitted on or before August 11, 2021

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