ConocoPhillips will pass debit-card rate savings to its customers

Effective October 1, 2011, ConocoPhillips will pass through to its customers the debit-card rate savings that have resulted from the recently passed interchange-fee reforms. “The temporary card fee adjustment to PIN debit, MasterCard and Visa card fees will be reduced by at least 0.15% to 0.20%,” the company said.
“We have communicated [the announcement] to our branded customers regarding the impact of Durbin on processing fees. Permanent changes to the credit-card fee table will be considered once all the impacts of the new regulations are known,” said Mike O’Connor, manager of wholesale marketing programs at ConocoPhillips, Houston, in an email.