cryptohunter
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In 2011, the Durbin Amendment changed how much money financial institutions could charge for debit card transactions in the U.S. This was meant to make things more competitive and cheaper for stores.
Because of this, some banks earned less money from debit card fees. To make up for it, some banks added new fees or changed their rewards programs.
Even though the rule was for debit cards, it affected all electronic payments. Stores paid less for transactions, which could mean lower prices or better services for customers. But some banks had to find other ways to make money, and this influenced how electronic payments worked.
Because of this, some banks earned less money from debit card fees. To make up for it, some banks added new fees or changed their rewards programs.
Even though the rule was for debit cards, it affected all electronic payments. Stores paid less for transactions, which could mean lower prices or better services for customers. But some banks had to find other ways to make money, and this influenced how electronic payments worked.
