Costs of Keeping Ahead of Counterfeiters 

Feature on currency redesigns and the role of the Richmond Fed’s Currency Technology Office

Coin and Currency in the Casino Industry 

Report on how changes in the gaming industry have changed people’s use of coin and currency in U.S. casinos

The Role of Interchange Fees on Debit and Credit Card Transactions in the Payments System

When consumers use debit or credit cards to make purchases, merchants are assessed fees for processing the transactions, the largest of which is called an "interchange" fee. Rising interchange fees, along with the growing dominance of card transactions in the payments system, have brought increasing scrutiny from regulators on the appropriate level of interchange fees and the competitive aspects of card networks. This Economic Brief looks at the trends, mechanics, and economic role of interchange fees and finds that the issue may be more complicated than it initially appears.

Payments and Policy 

Working papers and other articles from the Richmond Fed’s research economists