By Godson Umejiego, Correspondent USA
The United States Federal Reserve Board has shifted the deadlineperiod On Proposed Changes To Regulation II regarding network availability for card-not-present debit card transactions.
The Federal Reserve Board announced on Tuesday that it will extend until August 11, 2021, the comment period for its proposed changes to Regulation II (Debit Card Interchange Fees and Routing) that would clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. The Board extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally