Swipe-Fee Relief: Will Your Business Really Save?Here are four ways big banks might change their practices in light of the new law that cuts what they can charge for debit-card purchases.

You may just want to go out to dinner and charge it on your debit card to celebrate this week's victory for merchants.

With a final effort in both houses of Congress to delay implementation going down to defeat this week, the way is cleared for legislation to take effect July 21 thatslashes "swipe" or interchange feesbanks can charge for debit-card purchases.

How much could retailers save with this new law (which has a long, boring official name but is better known asThe Durbin Amendment)? The Federal Reserve has proposed capping fees at 12 cents per transaction, which would be a big improvement. Currently it's 44 cents, according to credit-card information website CardHub.com.

Before the rejoicing in merchant circles begins, though, there are a couple loopholes: Small banks are curiously exempt from the new law and so are prepaid cards.

Also, the banking behemoths are always one step ahead of these kinds of impediments to their earnings. How will they work around this one to reclaim some of the $14 billion in lost revenue CardHub estimates merchants might save here? CardHub CEO Odysseas Papadimitriou seesfour likely changes banks will make:

1. Look for big banks to introduce and heavily promote prepaid cards, encouraging customers to switch over from regular debit cards. CardHub reports this trend can already be seen in action, as Capital One hasintroduced a prepaid card.
2. Credit cards that offer reward points will gain in popularity, while rewards debit cards will fade as banks cut these perks.
3. Small banks' unregulated swipe fees will help them gain market share, Papadimitriou says. They may lure more small-business customers, as they can set their fees lower than the big banks.
4. Expect higher membership fees and minimum balance requirements at big banks for cardholders. This essentially shifts some of what merchants have been paying in interchange fees onto the shoulders of consumers instead.

In light of all this, maybe the next legal battle will be one to cap swipe fees on prepaid cards.

Will there be abig stampede to switch to smaller, community banksand their possibly lower interchange fees? We'll see. Or maybe a year or two from now we'll all be using major banks' prepaid cards.

你的业务将受益于新的刷卡费吗law?Leave a message and let us know how you think it'll play out.