(mainly US, commerce) a document, usually negotiable, containing a signed promise to pay a stated sum of money to a specified person at a designated date or on demand Also called note, note of hand.
Before the amendment, retailers paid an average of 44 cents for a typical debit card transaction, then valued at roughly $38. The Durbin rules meant that for that typical $38 purchase, the maximum fee would be about 24 cents, 45% less than the average cost before the law took effect.
NEW RULES AT THE REGISTER. Starting Jan. 27, 2013, merchants can charge you extra for paying by credit card. This marks the second big change in card rules in two years, coming on top of the Durbin Amendment, which was mainly aimed at debit cards but also affected credit card transactions.