Innovation, not interchange, should be focus of payment products

Innovation, not interchange, should be focus of payment products
October 13, 2004

Card Forum: Card issuers are being asked to move beyond the debate over interchange rates for PIN-based and signature-based debit, according to discussions at the recent Thomson ATM & Debit Forum. Executives including Ron Congemi, chief executive of First Data Debit Services, are asking card issuers to shift their focus to more competitive electronic-payment products which will leverage demand-deposit accounts.