Bankers to Fed: debit interchange caps hurt consumers most

The Consumer Bankers Association is pushing back against a recent Wall Street Journal article that seemed to suggest bankers are overreacting to a Federal Reserve proposal to slash allowable interchange on debit cards. The Fed last year proposed reducing the regulated cap on debit card interchange by about 30 percent, to 14.4 cents plus 0.04 percent (4 basis points) of the transaction amount, and 1.3 cents to cover fraud prevention costs. Currently, the cap is 21 cents and 0.05 percent (5 basis points) plus a penny to cover fraud costs.

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AU10TIX

Over 30 years ago, AU10TIX built the technology for ID intelligence at airports and border control worldwide, becoming the world's first enterprise solution for ID verification. That experience led the team to develop innovative, fast and accurate methods for automating the process in today's digital world.

AU10TIX Blog

As a foremost authority on ID intelligence, AU10TIX shares in-depth knowledge in this blog. Topics include understanding KYC, AML screening, spotting fake IDs, liveness detection in KYC, microprint, fugitive ink and fugitive pigments, malware-based phishing, and much more.

Drive revenue, scale operations with B2B cellular connectivity

OptConnect began life in 2000 as a Grant Victor company, providing cellular routers for ATMs. After years of selling routers as ATM accessories, the company expanded into other markets and established OptConnect LLC in 2009, a global wireless connectivity provider that offers a range of cellular connectivity options, from self-managed to fully managed solutions. Chris Baird, president and CEO of OptConnect, said the company is focused on simplifying connectivity. "One size doesn't fit all, especially when it comes to cellular connectivity," he said, adding that OptConnect provides IoT project expertise, resources and support.

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