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The Commission on the Filipino Language ( CFL ), [ 2] also referred to as the Komisyon sa Wikang Filipino ( KWF ), [ a] is the official regulating body of the Filipino language and the official government institution tasked with developing, preserving, and promoting the various local Philippine languages. [ 4][ 5] The commission was established ...
Durbin amendment. The Durbin amendment, implemented by Regulation II, [ 1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by ...
The Government Service Insurance System ( Filipino: Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS) is a government-owned and controlled corporation (GOCC) of the Philippines. Created by Commonwealth Act No. 186 and Republic Act No. 8291 (GSIS Act of 1997), GSIS is a social insurance institution that provides a defined ...
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]
The SIM Registration Act, officially designated as Republic Act No. 11934 and commonly referred to as the SIM card law, is a Philippine law mandating the registration of SIM cards before activation. Under the measure, mobile device users must register their SIM cards, whether prepaid or postpaid. The law was enacted intending to curb ...
According to Heller, with the two companies controlling about 80% of the credit card market, the bigger banks need to start providing more credit options — a choice of at least two networks that ...
Thanks to The Kansas City Star for an excellent overview of the credit card swipe fee legislation proposed by Kansas Sen. Roger Marshall. (Dec. 2, 1A, “Marshall wants businesses to pay less for ...
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...