WASHINGTON — A proposal from the Federal Reserve could limit debit interchange fees—charges associated with accepting debit-card payments—to 12 cents per transaction. If enacted, the proposal stands to benefit small businesses.
The average interchange fee for debit transactions in 2009 was 44 cents per transaction, according to Fed research. “Setting a cap ensures that no issuer is able to receive an interchange fee at an unreasonably high level,” the proposal says.
