That’s the percentage of U.S. consumers who said they “feel safe” going to the store, according to market researcher Deloitte’s latest “Consumer Tracker Report,” which was released April 28. That percentage is up slightly (1%) from the previous reading on March 31. It is up from 64% on March 3 and 55% on Feb. 3 when Deloitte conducted the same survey. Deloitte has been conducting surveys of consumers throughout the pandemic.
“When Congress said routing was up to merchants, that meant wherever the purchase was made, not just in stores. With the accelerated shift to online spending during the pandemic, this issue is more important than ever. The lack of routing ability has cost retailers billions of dollars, and that’s an added expense that small businesses can’t afford as they work to recover from the economic impacts of COVID-19. NRF has raised this issue with the Fed repeatedly, and we are glad to see [it] take action. This move will help bring about the competition that is needed to bring these fees under control.”
| — Leon Buck, vice president of government relations, banking and financial services for the National Retail Federation, on the Federal Reserve’s clarification that banks must allow retailers to decide where to route online debit card transactions for processing the same as they do with in-store debit transactions. |
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