The Interchange Fee Regulation was published in the Official Journal of the EU on 19 May 2015 and entered into force in June 2015. It introduces a new set of business rules for payment card schemes along with caps for the interchange fees charged on all card transactions. It aims to create a payments environment which will nurture competition, innovation and security to the benefit of all stakeholders and consumers in particular.
A public consultation was run regarding the possible use of the national discretions contained within the Regulation. The Consultation ran from 19 May 2015 to 10 June 2015. In all, 20 written submissions were received.
A copy of this public consultation can be found here: Interchange Fee Regulation Consultation
Responses to consultation can be found below
Following the Public Consultation, the Minister made decisions on the options, his decisions can be read here: