Debit After Durbin: Rewards, Routing, and the Search for Lost Economics
Fifteen years after Durbin capped debit interchange, the value it displaced migrated across the household wallet. As network ownership emerges as an issuer strategy, the unsettled question returns: who captures the value?
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Franco Di Pietro
The Payments Corner
30+ years across payments, fintech, banking, and financial infrastructure. Operator-level perspectives on the systems that move money.
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