Visa Eases Merchant Debit Rules, Satisfying Regulatory Probe

Visa Inc., the world’s largest payments network, revised rules for merchants using its new chip technology for debit-card transactions after some retailers claimed the requirements inhibited competition.

Merchants won’t be required to ask the cardholder to choose which network processes the debit transaction, San Francisco-based Visa said Nov. 22 in a statement. Stores can also continue to prompt cardholders to enter a personal identification number, or PIN, on in-person transactions.

“The modifications and clarifications follow new guidance recently issued from the Federal Reserve and address a Federal Trade Commission inquiry,” Visa said in the statement.

The FTC notified Visa on Nov. ...