Interchange fees : Regulation enters into force

In force since 8 June, the regulation capping multilateral interchange fees (MIFs) will apply from 9 December. These fees are the commissions that the consumer's bank (issuer) collects from the merchant's banks (buyer) for card-based payment transactions. They are set by companies like MasterCard and Visa. For credit cards, the text sets a cap of 0.3% of the transaction value (domestic or cross-border). For debit cards, MIFs are limited to 0.2% of the value of cross-border and domestic transactions. The…