Regulation on interchange fees for card-based payment transactions

Electronic payments - debit card - credit card
Regulation n° 2015/751 of the European Parliament and the Council of 29 April 2015 on interchange fees for card-based payment transactions entered into force on the 8th of June 2015.

In order to eliminate any obstacles for the proper functioning and the completion of the integrated market for electronic payments, the regulation provides a uniform legal framework for interchange fees for card-based payment transactions and for card-based internet- and mobile payments.

To this aim, the regulation foresees uniform technical and professional requirements for these financial transactions, such as maximum interchange fees for consumer debit card transactions and consumer credit card-transactions of respectively 0,2% or 0,3% of the value of the transaction. The interchange fee is defined as the fee paid for each transaction directly or indirectly (i.e. through a third party) between the issuer and the acquirer involved in a card-based payment transaction. The net compensation or other agreed remuneration is considered to be part of the interchange fee;

Furthermore, rules with regards to e.g. territorial restrictions, licensing, co-badging (i.e. the inclusion of two or more payment brands or payment applications of the same brand on the same card-based payment instrument), unblending and the provision of information are foreseen.

The full text of the regulation can be viewed here.

Régine Feltkamp and Joeri Danhieux