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Retailers Affected by the Durbin Amendment

The use of debit cards has traditionally come at a high price to retail merchants. Retailers have paid upwards of $48 billion a year in "swipe fees," with nearly $17 billion of that coming from debit card transactions. Transactions processed by debit card had required retailers to pay fees, which resulted in large profits for banks, which would use such profits to create incentives such as free rewards checking.